WASHINGTON, D.C., June 24 -- Today the International Finance Corporation (IFC) launched a HK$1 billion (US$129.2 million equivalent) issue under its Euro Medium Term Note program. The 2_-year maturity, fixed-rate notes carry a semi-annual coupon of 6.805 percent per annum and an issue price of 100.1875 percent. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds. The issue is IFC's largest HK$ borrowing to date. It is also IFC's first HK$ issue which will be eligible for the Liquidity Adjustment Facility of the Hong Kong Monetary Authority.
The joint-lead managers and joint-bookrunners of the issue are IBJ Asia Limited, Oakreed Financial Services Limited, and Tokyo-Mitsubishi International (HK) Limited. Thirteen additional financial institutions completed the syndicate group.
This transaction brings IFC's market borrowing to about US$207.6 million for fiscal year 1997, which began on June 18, 1996.
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.
