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PRESS RELEASE July 2, 1992

World Bank Plans New $1.5 Billion Global Bond Issue

The World Bank announced today that in the middle of the week of July 6 it plans to launch a new U.S. dollar global bond issue. The size of the issue is expected to be $1.5 billion. The bonds will be noncallable to final maturity. Previous issues of the Bank's U.S dollar denominated global bonds have had maturities of five to ten years. This issue's maturity is expected to be within that range.

The issue will be underwritten and distributed simultaneously in the Euromarkets and in the U.S. and the Japanese domestic markets. As with the prior issues, these securities are designed to trade globally, on a 24-hour basis, through integrated clearing systems in the U.S. and the Euromarkets.

In preparation for the global bond issue the World Bank announced the formation of the international management group of fourteen investment dealers that will bring the issue t market. IBJ International Limited and Merrill Lynch & Co. are joint book running lead managers; other members of the management team are CS First Boston Group, Daiwa securities, Deutsche Bank Capital Markets Limited, Goldman, Sachs & Co., J.P. Morgan Securities Inc., Lehman Brothers, Morgan Stanley & Co. Incorporated, Nomura Securities, Salomon Brothers Inc., S.G. Warburg Securities, Swiss Bank Corporation, and UBS Phillips & Drew Securities Limited.

 


PRESS RELEASE NO: 93/F1

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