WASHINGTON, D.C., June 23, 1999 –The International Finance Corporation launched a eurosterling 150 million borrowing (approximately US$ 238 million) under its Global Medium Term Note program. The 30-year notes carry a coupon of 5.375 percent and an issue price of 98.82 percent. The proceeds of the issue were swapped into US dollar floating rate funds. The issue was lead managed by Warburg Dillon Read.
The funds which IFC raises in the international capital markets are used to support the operations of IFC, including funding its lending operations.
IFC, part of the World Bank Group, fosters economic growth in the developing world by financing private sector investments, mobilizing capital in the international financial markets and providing technical assistance and advice to government and businesses. Its long-term debt is rated triple-A by both Standard & Poor's and Moody's Investors Service.