IBRD decides maturing ruble-denominated notes to be paid in dollars

By Mary-Katherine Stinson

Lexington, Ky., March 24 – The International Bank for Reconstruction and Development, the lending arm of the World Bank Group, has determined it will make the payment due at maturity on its RUB 150 million 0% coupon notes due March 27 (ISIN: XS1971428047) in dollars, according to a notice.

Holders were informed on March 17 that the bank would replace in its entirety its obligations to pay in rubles as specified currency with a payment from the bank in dollars.

Noteholders will be entitled to receive $653.59 per specified denomination as the final redemption amount, based on the currency exchange rate of RUB 76.50 per $1.00.

The notes were originally issued March 29, 2019.

The global development financing cooperative is based in Washington, D.C.

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