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PRESS RELEASE May 14, 1992

World Bank Announces Redemption of US Dollar Issue

The World Bank announced today it intends to call all the remaining outstanding bonds of the 8.85 percent Twenty-Five Year U.S. Dollar Bonds of 1976, due July 1, 2001, $198 million principal amount. Of this volume, the Bank will prepay at par $20 million as a mandatory sinking fund redemption and $20 million as an optional sinking fund redemption. It will prepay the remaining $158 million principal amount at a price of 101.375 percent of par, in accordance with the redemption provisions of the bonds. All bonds will be redeemed on July 1, 1992. All bondholders will also receive a final payment of interest accrued on the bonds to that date in the usual manner. Bondholders will be sent a formal redemption notice on or about May 26, 1992.

 


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