Washington, D.C., April 25, 2001
—On April 25, 2001, the International Finance Corporation launched a US dollar 1 billion issue under its Global Medium Term Notes program.
The 5-year notes, priced today to yield 59.5 basis points over the benchmark US Treasury bond, carry a coupon of 5.25 percent per annum (payable semi-annually) and an issue price of 99.8 percent. The proceeds of the issue will be swapped in US dollar floating rate funds to support IFC operations. The Joint Lead Managers are HSBC Securities and Salomon Smith Barney and Co-managers are Deutsche Bank AG, Goldman Sachs International, Merrill Lynch International, Morgan Stanley & Co. International Ltd., Nomura International plc., and UBS Warburg.
This borrowing is IFC’s second US dollar borrowing to be launched as a global bond issue and brings IFC’s market borrowings for the fiscal year 2001—which began on July 1, 2000—to about US$3.8 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 the developing world, mobilizes capital in the international financial markets, and provides technical assistance and advice to governments and businesses. IFC’s long-term debt is rated triple-A by both Standard & Poor’s and Moody’s Investors Service.
