WASHINGTON, D.C., Oct. 19 -- The International Finance Corporation (IFC) has launched a 10 billion Spanish peseta (US$74.9 million equivalent) bond issue that will be listed on the Madrid Stock Exchange and will carry a coupon of 8.10% per year with an issue price of 101.21. This borrowing is IFC's eighth issue to date, and the first in the Corporation's current fiscal year (FY94). It will allow IFC to take advantage of attractive funding opportunities currently offered by the growing demand for peseta bonds. The Corporation has now borrowed about US$743 million for FY94 and anticipates an aggregate borrowing program in FY94 of up to US$1.6 billion. The arranger and lead manager for the issue is Banco Credito de EspaÒol, S.A. (Banesto). The co-lead managers are Barclays Bank, Midland Bank, Deutsche Bank, and Swiss Bank Corporation. An additional 13 banks form the syndicate group. The proceeds will be swapped into variable rate US dollars to fund IFC's variable-rate US dollar lending. IFC is a member of the Wo
rld Bank Group and 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 & Poors and Moody's Investors Services.
