WASHINGTON, D.C., Apr. 26 -- The International Finance Corporation (IFC) launched a HK$500 million bond issue (approximately US$65 million equivalent) in the Hong Kong dollar domestic bond market on April 25, 1994. The 5-year maturity fixed-rate bonds, which will carry a coupon of 7.175% per annum payable semi-annually, were issued at 100%. This is the sixth issue in the HK$ domestic bond market. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds. The arranger and lead manager of the issue is JP Morgan Securities Asia Limited (bookrunner), with Mitsubishi Finance (Hong Kong) Limited as joint lead. Co-lead managers are Oakreed Financial Services Limited, Société Générale Asia Limited, Sanwa International Finance Limited, Union Bank of Switzerland (Hong Kong), and Chemical Securities Asia Limited. An additional 11 financial institutions completed the syndicate group. This transaction brings IFC's market borrowings to about US$1.7 billion for fiscal year 1994, which began on July 1, 1
993. 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.
