WASHINGTON, D.C., November 17, 1998 --- The International Finance Corporation yesterday launched a Swiss Franc (CHF) 100 million (approximately US$73 million) issue. The notes with a maturity in December 2010 carry an annual coupon indexed on the minimum performance of a selection of ten blue chip companies. The notes were issued at a price of 100.00 percent of par. The proceeds of the issue were swapped into US dollar floating rate funds. The lead manager for the issue is Société Générale Bank & Trust, Zurich.
This transaction is the thirteenth borrowing for the fiscal year which began on July 1, 1998, and brings
IFC's market borrowings for FY99 to about US$1,740 million. The notes will be issued under the Global Medium Term Note program. The funds which IFC raises in the international capital markets are used to support the operations of IFC, including funding its lending operations.
IFC, part of the World Bank Group, fosters economic growth in the developing world by financing private sector investments, mobilizing capital in the international financial markets and providing technical assistance and advice to governments and businesses. Its long-term debt is rated triple-A by both Standard & Poor's and Moody's Investors Service.
