The World Bank today borrowed
ECU 150 million (about US$185 million) through a five-year noncallable public bond offering. The bonds carry an 8-1/4 percent coupon, payable annually, and were offered at 99.95 to yield 8.10 percent on a semi-annual equivalent basis.
The European Currency Unit-denominated issue will be placed by an international underwriting syndicate lead managed by Credit Lyonnais. The bonds will be listed on the Luxembourg Stock Exchange.
The proceeds of this issue will be swapped into Deutsche mark which will be used in the general operations of the World Bank.
