WASHINGTON, D.C., Jan. 7—The International Finance Corporation (IFC) launched today a Yen 12 billion Dual Currency Note issue under its Euro Medium Term Note program. The 3-year fixed-rate notes carry a semi-annual coupon of 4.85 percent per annum in Yen and an issue price of 100 percent. The notes are redeemable at par, in US dollars. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds.
The lead manager and bookrunner of the issue is LTCB International, Ltd., with Dai-ichi Europe Limited as a Co-Lead Manager.
This transaction brings IFC’s market borrowing for the fiscal year 1997 to about US$2.1 billion equivalent.
IFC, a member of the World Bank Group, 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 & Poor’s Corp. and Moody’s Investors Service.
