WASHINGTON, D.C., Jan. 13 -- The International Finance Corporation (IFC) entered the Eurolira market on January 12 with a Lit150 billion bond issue, its third in this market. The five-year floating-rate bond carries a coupon of six-month LIBOR less 40 basis points and an issue price of 100.55. The proceeds of the issue have been swapped into U.S. dollar floating-rate funds. This transaction brings IFC's market borrowings to about $1.5 billion for its current fiscal year. The joint lead managers for the issue were Istituto Bancario San Paolo di Torino (bookrunner) and Banca di Roma. The co-lead managers were Banca Nazionale del Lavoro and Credit Commercial de France. An additional nineteen banks completed the syndicate. "We are delighted to launch another issue in the Eurolira market, which is becoming an important borrowing market for IFC," said Robert D. Graffam, Director of IFC's Treasury and Financial Policy Department. "We are particularly pleased to launch this floating-rate Eurolira issue after a pletho
ra of fixed-rate issues in this market." IFC is a member of the World Bank Group and the largest source of multilateral financing for private sector companies in developing countries. Its long-term debt is rated triple-A by both Standard and Poor's and Moody's Investors Services. (30)