WASHINGTON, D.C., August 13 -- The International Finance Corporation (IFC) launched a HK$750 million bond issue (approximately US$97 million equivalent) in the Hong Kong dollar domestic bond market on August 12, 1993. The 7-year maturity fixed rate bonds will carry a coupon of 6.555% payable semi-annually and were issued at 100.37%. This is the largest bond issue to date in the Hong Kong dollar domestic bond market and IFC's third issue in the market. The proceeds of the issue will be swapped into US dollar floating rate funds. The arranger and lead manager of the issue is Wardley Limited (Hong Kong) with Sanwa International Finance Limited as joint lead. Out of order co-leads are BNP (Hong Kong branch), and BOT International Limited (Hong Kong). Co-lead managers are Goldman Sachs (Asia) Limited, Mitsubishi Finance (Hong Kong) Limited, Oakreed Financial Services Limited, and Societe Generale Asia Limited. An additional 12 financial institutions completed the syndicate group. This transaction brings IFC's mark
et borrowings to US$578 million for FY94. IFC anticipates an aggregate borrowing program in FY94 of up to US$1.6 billion. IFC is a member of the World Bank Group and 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 & Poors and Moody's Investors Services.
