The World Bank has issued FRF 1 billion (about US$177.7 million equivalent) of 8-year Euro- French franc bonds lead managed by Credit Commercial de France with Caisse des Depots et Consignations as joint lead-manager.
The bonds carry an 8-3/8 percent coupon and are priced at 98.736 for a yield of 8.42 percent on a semi-annual coupon equivalent basis. The bonds, which will be repaid at par on March 16, 2000, are not callable.
The proceeds of the issue will be swapped into Deutsche mark which will be used in the general operations of the World Bank.
