LONDON -- The World Bank is expected to launch a global bond transaction for about $1.5 billion this month, marking the bank's first global transaction in a year. Lehman Brothers and UBS will jointly lead-manage the issue.

The World Bank is not expected to decide the actual size or maturity of the issue until closer to the launch date. The new transaction will be the bank's 10th global dollar offering and its 15th global bond issue.

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