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WASHINGTON, D.C., Nov. 30 -- The International Finance Corporation (IFC) launched a US$500 million Eurobond issue in London today. The five-year fixed rate bond issue was launched at a fixed re-offer price of 99.665% of par. The issue will be due on January 5, 1999, and carries a coupon of 5 1/4% per annum payable annually. Deutsche Bank AG London, and Mitsubishi Finance International plc are lead managers of the issue. The senior co-lead manager is Goldman Sachs International Limited. Co-lead managers are Barclays de Zoete Wedd Limited, Credit Suisse First Boston Limited, IBJ International plc, Lehman Brothers International, J.P. Morgan Securities Ltd, Morgan Stanley International, Nomura International plc, Paribas Capital Markets, Salomon Brothers International Limited, Swiss Bank Corporation, and UBS Limited. This borrowing, along with other IFC issues undertaken since July 1, 1993, brings IFC's market borrowings to about US$1.2 billion for this fiscal year. IFC anticipates a fiscal year 1994 (July 1, 1993
- June 30, 1994) aggregate borrowing program of up to US$1.6 billion. "We are very pleased with this benchmark bond issue, which is the largest ever undertaken by IFC," said Mr. Robert Graffam, IFC's Director of Treasury and Financial Policy. "Moreover, the launch spread of 13 b.p. over the relevant US Government treasury bond reflects IFC's credit standing in the international financial markets." 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 currently rated AAA by both Standard & Poors and Moody's Investors Services.
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