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            February 14, 1972                        Subject:     Belgian Franc Bond Issue


                 An Jssue of Belgian franc bonds of the International Bank for

            Reconstruction and Development (World Bank) is planned for public offering

            in Belgium on February 28, 19 72 by a group of leading Belgian banks.          The

            banks will offer BF 1,000 million of 7~% 12-year bonds.          The bonds will

            be issued at par.   The unden,riting group      is   headed by Societe Generale

            de. Banque, and includes Banque de Bruxelles, Kredietbank, Banque de Paris

            et des Pay-Bas Belgiqu~, and Banque Lambert.




•                The new issue, to be known as the Emprunt en Francs Belges 7~%

            1972-1984 (7~ Belgian Franc Bonds of 1972, Due 1984), will be dated

            March 1, 19 72 and will mature in seven installments of BF 50 miU.ion each

            from March 1, 1977 to March 1, 1983 and a final ins:tallment of BF 650

            million on March 1, 1984.    Beginning March 1, 1977 the World Bank may

            redeem pat·t or all of the issue, at par, on any interest payment date on

            three months' notice.     Interest will be payable annually on Marcq 1, with         ()



            the first payment due on March. 1, 1973.       The issue will be listed on the

            stock exchanges at Brussels and Antwerp .•
                                                                                   I (:~
                 The World Bank has previously made two· public issues in:' Belgiwn

            aggregating BF 1,250 million.    Of this amount BF 500 million has been

            repaid, leaving outstanding BF 750 million •



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