WASHINGTON, D.C., June 7 -- On June 7, 1995, the International Finance Corporation (IFC) launched its first public bond issue in the Deutsche Mark market. The 5-year issue is DM 500 million (approximately US$357 million equivalent) and carries an annual coupon of 5.75 percent and an issue price of 101.036 percent. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds.
The joint-lead managers of the issue are Deutsche Bank AG and JP Morgan GmbH. An additional twelve financial institutions completed the syndicate group.
This transaction brings IFC's market borrowings to approximately US$2.4 billion for its 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.
