WASHINGTON, D.C., June 25 -- On June 24, 1996, the International Finance Corporation (IFC) launched a US$500 million Eurobond issue. The five-year maturity, fixed-rate bond issue carries an annual coupon of 6.875 percent and was launched at a fixed re-offer price of 99.77 percent.
The joint-lead managers of the issue are JP Morgan Securities Limited and DKB International Plc. An additional 14 financial institutions completed the syndicate group.
This transaction brings IFC's market borrowing to about US$707.6 million for fiscal year 1997, which began on June 18, 1996.
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 AAA/Aaa by both Standard & Poor's Corp. and Moody's Investors Service.
