WASHINGTON, D.C., Dec. 14 -- The International Finance Corporation (IFC) launched a HK$350 million issue (US$45 million equivalent) under a Euro Medium Term Note on December 13, 1994. The 3-year maturity, fixed-rate notes, which will carry a coupon of 8.5% per annum payable semi-annually, were issued at 100.21%. The proceeds of the issue will be swapped into U.S. Dollar floating-rate funds. The arranger and lead manager of the issue is Oakreed Financial Services Limited. Underwriting support was provided by 13 financial institutions comprising Banque Indosuez, BOT International (Hong Kong) Limited, Chemical Securities Asia Limited, China Development Finance Company (Hong Kong) Limited, DKB Asia Limited, HSBC Markets, IBJ Asia Limited, JP Morgan Securities Asia Limited, Mitsubishi Finance (Hong Kong) Limited, Morgan Stanley Asia Limited, Sanwa International Finance Limited, Societe General Asia Limited, and Union Bank of Switzerland (Hong Kong). This transaction brings IFC's market borrowings to about US$1 bil
lion for fiscal year 1995, which began on July 1, 1994. IFC, a member of the World Bank Group, is the largest source of multilateral financing for private sector companies in developing countries. Its long-term debt is rated triple A by Standard and Poor's and Moody's Investors Service.