The World Bank has issued FRF 1.5 billion (about US$280.4 million) of 7-year Euro French franc bonds lead-managed by Banque Nationale de Paris.
The bonds carry an 8.125 percent coupon and are priced at 99.612 percent of par, for a yield of 8.04 percent on a semi-annual coupon equivalent basis. The bonds, which will be repaid at par on November 24, 1999, are not callable.
The issue will be listed on the Paris and Luxembourg Stock Exchanges.
The proceeds of the issue will be swapped into Deutsche Mark which will be used in the general operations of the World Bank.