WASHINGTON, D.C., Sep. 21 -- The International Finance Corporation (IFC) launched today a HK$300 million (approximately US$39 million equivalent) bond issue under its Euro Medium Term Note program. The 2-year fixed-rate notes carry a quarterly coupon of 6.44 percent per annum and a fixed reoffer price of 100.15 percent. The proceeds of the issue has been swapped into U.S. dollar floating-rate funds.
The arranger and lead manager of the issue is Dai-Ichi Kangyo Bank Asia Limited. Underwriting support was provided by a group of ten financial institutions.
This transaction brings IFC's market borrowing to about US$1.4 billion for fiscal year 1996, which began on July 1, 1995.
IFC, a member of the World Bank Group, is the largest multilateral source of financing for private sector companies in developing countries. Its long-term debt is rated triple A by both Standard & Poor's Corp. and Moody's Investors Service.
