About World Bank Treasury  |  FAQ  |  Contact  

Press Releases

World Bank Issues 1 Billion Norwegian Kroner Bond

Washington, DC, August 29, 2002 – The World Bank issued one of the largest public Norwegian Kroner bonds today. The two-year 1 billion Norwegian Kroner issue offers investors an annual interest coupon of 7% and matures on October 25, 2004. Fortis Bank was the lead manager for the bonds. The issue was widely syndicated and very well received by retail investors and fund managers in continental Europe, especially in Belgium, Germany, the Netherlands, and Switzerland.

"Norwegian Kroner bonds are very much in demand right now. The Norwegian Kroner offers investors a higher coupon than the Euro with a strong currency performance. Banks with broad retail networks were very interested in being in the syndicate. We are offering the bond in small denominations so that it is easy for retail investors to buy the bonds. It is one of the largest public bonds ever issued in NOK, and we are very pleased with this deal." said Mehmet Ozkaya, Senior Financial Officer, Debt Capital Markets at the World Bank.

Settlement date: October 25, 2002
Coupon: 7% per annum
Original maturity: 2 years
Issue price: 102.24%
Interest payment date: October 25
Listing: London
Form of notes: Eurobonds
Denominations: 10,000 and 50,000 (definitive notes available)
Clearing systems: Euroclear or Clearstream

Fortis Bank NV-SA is the sole lead manager and bookrunner for the bond. Other members of the syndicate were: Danske Bank (Senior Co-Lead ), Deutsche Bank AG London, Dexia Capital markets, ING, KBC Bank London, Landesbank Baden-Wuertemberg (Co-Lead Managers), Banque et Caisse d'Epargne de l'Etat, LMF Servizi finanziari, Rabobank International London, Zuericher Kantonalbank (Co-Mangers).

Back to Press Releases