WASHINGTON, D.C., Mar. 27—The International Finance Corporation (IFC) launched three IBEX-linked Matador notes on March 20th, 1997. The face value of the combined issue was 30 billion Spanish Pesetas, equivalent to about 211 million US Dollars. IFC has been an active issuer in the Spanish Peseta market over the past four months, and investors in the Spanish domestic market have continued to show strong interest in its bonds. The notes have varying fixed-rate coupons and the principal redemption is linked to the appreciation of the IBEX 35 (Madrid) stock exchange index. They have a final maturity of approximately 4½ years and have been issued to investors at 100% of face value. The issue will benefit from increases in the value of the IBEX index and have been purchased by investors who wish to participate in the appreciation while protecting most of their underlying principal in case of a downswing. The issue listed on Madrid stock exchange is swapped to floating rate US Dollars.
The notes have been solely underwritten by Banco Bilbao Vizcaya.
IFC is a member of the World Bank Group and the largest source of 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.
