The World Bank has issued GPB 200 million ($305. 2 million) of six-year Eurobonds through an international group of banks lead managed by Baring Brothers & Co., Ltd.
The bonds carry a 7-1/4 percent coupon and are reoffered at 99 percent of par for a yield of 7.33 percent on a semiannual coupon equivalent basis. The bonds will be repaid at par on December 15, 1998 and are non-callable. They will be listed on the Luxembourg Stock Exchange.
Proceeds of the issue will be swapped into Deutsche Mark, which will be used in the general operations of the World Bank.