WASHINGTON, D.C., Oct. 20—On October 17, 1997, the International Finance Corporation (IFC) launched a Czech koruna bond issue for the amount of CZK one billion (approximately US$36 million equivalent) under its Global Medium-Term Note program. This is IFC's fifth issue in the Euro Czech koruna market. The one-year notes carry an annual coupon of 14 percent and were issued at a price of 100.97 percent. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds.
The lead manager of the issue is WoodCommerz A.S. The syndicate group comprises 15 additional financial institutions which are active in the Czech koruna market.
This transaction brings IFC's market borrowings during the fiscal year 1998, which began on July 1, 1997, to about US$1,296 million 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.
