WASHINGTON, D.C., September 27 -- On September 24, 1996, the International Finance Corporation (IFC) launched a US$20 million bond issue under its U.S. Medium-Term Note program. The issue has a coupon of 7.75%, a 15-year maturity and is callable after one year and semi-annually thereafter. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds.
The lead manager of the issue is LaSalle National Bank. This transaction brings IFC's market borrowings to about US$1.37 billion for the fiscal year 1997, which began on July 1, 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 Standard & Poor's Corp. and Moody's Investors Services.
