Washington, DC, April 12, 2011 – Today, the World Bank (International Bank for Reconstruction and Development, rated Aaa/AAA) launched a Zambian Kwacha (ZMK) 100 billion 3-year fixed rate note (settlement date: April 20, 2011). The notes mature on April 11, 2014 and have an annual coupon of 8.50%. The sole underwriter for the transaction is J. P. Morgan Securities Ltd.
Transaction Summary:
Amount: ZMK 100 billion (USD equivalent 21.2 million)
Settlement date: April 20, 2011
Maturity date: April 11, 2014
Issue price: 100.815%
Coupon: 8.50% p.a.
Denomination: ZMK 1,000,000
Listing: Luxembourg Stock Exchange
Clearing systems: Euroclear and Clearstream
About the World Bank
The World Bank (International Bank for Reconstruction and Development, IBRD), rated Aaa/AAA (Moody’s/S&P), is an international organization created in 1944. It operates as a global development cooperative owned by 187 nations. It provides its members with financing, expertise and coordination services so they can achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global economic and environmental problems. The overriding goal is to achieve major, sustainable improvements in standards of living worldwide. It has been issuing bonds in the international capital markets for over 60 years to fund its activities. Information for investors is available on the World Bank Treasury website: (www.worldbank.org/debtsecurities).
