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PRESS RELEASE December 5, 1991

World Bank Announces Euroyen 80 Billion Bond Issue

The World Bank announced today a Yen 80 billion (about $620 million) public bond offering in the international capital markets. The bonds carry an interest rate of 6 percent, payable annually. They are priced at 101.00 percent plus accrued interest from October 18 and have a final maturity of 5 years for a yield of 5.68 percent on a semiannual coupon equivalent basis. The bonds will become fully fungible with the Bank's existing 6 percent bond issue due October 18, 1996. The bonds are not callable and will be listed on the Luxembourg Stock Exchange.

The offering is being lead managed by Nikko, Europe, plc in association with an international group of investment dealers. Proceeds of the borrowing will be used in the general operations of the World Bank.