HOLD FQR RELEASE
                                                                                       WORLD



•      INTERNATIONAL BAN
       RECONSTHU
       1818 H STREET,      N.W., WASHINGTON 25, D. C.         TELEPHONE: EXECUTIVE 3-6360

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               I:
           PRES:$ RELEASE NO.      580
           FOR RELEASE
           A.M. Newspapers                                       SUBJECT:    200 million Deutsche Mark
           April 8, 1959                                                     Bond Issue


                     The first public offering of Deutsche Mark bonds of the International Bank

           for Reconstruction and Development will be made in Germany on April                    9, 1959. The
           offering will consist         of DM   200 million ( ap;,rox:Lilately   $47 .6 million) of 5%
           15   year bonds and will be made by a syndicate of leading Geman banks headed by

           the Deutsche Bank A.G. as the principal manager and the Dresdner Bank A.G. as

           the co-manager.         The syndicate will consist of more than          70 banks which will be
•          the largest syndicate to offer bonds in Germany in the last                 15 years.
                     The bonds will be repayable at par beginning April           i, 1965     in 10 annual

           installments of DM 20 million each so that the entire issue will have been repaid

           by April     1, 1974.    On or after April 1, 1970 the World Bank may redeem at par all

           of the issue then outstanding on. any irii:7. erest payment date on not less than three

           months' notice.         Interest will be payable semi-annually on April 1 and October l

           with the first pa.vment due on . October 1, 1959.

                     The issue will be listed on the stock exchanges of Berlin, Bremen, Dusseldorf,

           Frankfurt (M), Hamburg, Harmover, Munchen and Stuttgart.

                     This is the first offering of World <~arik boms to the public in Germany and

           is the largest public offering of non-dollar bonds :ever made by the Bank.                     The

           World Bank has previout~ly borrowed privatel;r .from the Ceh$ral Bank of' Germany

           (Deutsche Bundesbank) about $350 million and DM 200 !llillionll                  $65 million of this
. •,       amount has been retired.
                Giving effect to the present issue, to deliveries of bonds under delayed
           delivery contracts, and to amounts still to be drawn under the privately placed
           Deutsche Mark borrowing, the World Bank's funded debt will be about $1,928 million
           equivalent in u.s. dollars and other currencies.