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PRESS RELEASE October 28, 1991

World Bank Announces Prepayment of a Japanese Yen Public Bond Issue of 1984

The World Bank announced today that it intends to prepay an outstanding yen public bond issue, the 7.7 percent Bonds of 1984 due 1996 (Series 27), at its next interest payment date of January 11, 1992, and that since this due date and the next following day, January 12, fall on bank holidays, the payment date will be on January 13.

The aggregate amount to be prepaid to investors is Japanese yen 25.2 billion (about $191.7 million), plus a prepayment premium of 2.0 percent of that amount (yen 504 million).

The Bank has previously exercised prepayment rights with respect to borrowings denominated in Japanese yen, Austrian schillings, Belgian francs, Canadian dollars, Deutsche mark, Kuwaiti dinars, Luxembourg francs, Swiss francs and U.S. dollars.