WASHINGTON, D.C., May 25 -- The International Finance Corporation (IFC) launched a HK$350 million (approximately US$45 million equivalent) bond issue yesterday under its Euro Medium Term Note program. The 3-year fixed-rate notes carry a quarterly coupon of 6.86 percent per annum and a fixed reoffer price of 100.15 percent. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds.
The arranger and lead manager of the issue is Societe Generale Asia Limited, with Fuji International Finance (HK) Limited as joint lead manager. Underwriting support was provided by a group of nine financial institutions.
This transaction brings IFC's market borrowing to over US$2.0 billion for fiscal year 1995, which began on July 1, 1994.
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.
