WASHINGTON, D.C., Jan. 06—On January 6, 1998, the International Finance Corporation (IFC) launched a Hong Kong dollar 670 million (approximately US$86 million equivalent) issue under its Global Medium-Term Note program. The 3-year notes carry a semi-annual coupon of 11.00 percent per annum and an issue price of 100.00 percent. The proceeds of the issue will be swapped in US dollars floating rate funds. The sole lead manager is Goldman Sachs (Asia) LLC.
This transaction brings IFC's market borrowing to about US1,910 million for the fiscal year 1998, which began on July 1, 1997.
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 and Moody's Investors Service.
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