Washington D.C., August 13, 2001—
The International Finance Corporation launched a US dollar 250 million eurobond on August 10, 2001 under its Global Medium Term Notes program.
The 6-year notes, priced today to yield 75 basis points over the 4.625 percent US Treasury bond due May 2006, carry a coupon of 5.375 percent per annum (payable annually) and an issue price of 99.952 percent. The proceeds of the issue will be swapped in US dollar floating rate funds to support IFC operations. The lead manager is UBS Warburg and co-managers are Banco del Gottardo, Credit Suisse First Boston International, Darier Hentsche, LMF, Lombard Odier, and Pictet.
This transaction brings IFC’s market borrowings for the fiscal year 2001—which began on July 1, 2001—to about US$1 billion.
The mission of IFC, part of the World Bank Group, is to promote sustainable private sector investment in developing countries as a way to reduce poverty and improve people’s lives. IFC finances private sector investments in emerging markets, mobilizes capital in the international financial markets, and provides 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.
