WASHINGTON, D.C., January 15 -- The International Finance Corporation (IFC) today launched a Canadian $250 million (US$195 million equivalent) Eurobond issue. The five and one-half year maturity bonds are due in August of 1998 and carry a coupon of 7 3/4% per annum payable annually and were issued at a price of 101.258% of par. The reoffer price was fixed at 99.633%. ScotiaMcLeod is the arranger and lead manager of the issue. Senior co-lead managers comprise Goldman Sachs, Hambros Bank, IBJ International, Merrill Lynch, Paribas, and Wood Gundy. An additional ten financial institutions complete the management group. The issue was swapped into variable rate US dollars with the Bank of Nova Scotia. In early 1991 the Canadian Parliament approved legislation which provided for IFC securities to be treated as domestic securities for regulatory purposes. This statutory action cleared the way for today's issue. This is the second consecutive day in which IFC has launched a bond issue in the Euromarkets and represents
the first Canadian dollar issue for the Corporation. Today's borrowing, along with yesterday's US$300 million Eurobond issue and other IFC issues undertaken since July 1, 1992, brings IFC's market borrowings to US$661 million equivalent for this fiscal year (FY). IFC anticipates a FY 1993 (July 1, 1992-June 30, 1993) market borrowing program of up to US$1 billion equivalent. IFC is a member of the World Bank Group and is the largest source of financing for private sector companies in developing countries. Its long-term debt is currently rated Triple A by both Standard & Poors and Moody's Investors Services. (30)
