WASHINGTON, D.C., April 23,—On April 22, 1997, the International Finance Corporation (IFC) launched a Slovak Koruna bond issue for the amount of SKK 1.0 billion (approximately US$30 million equivalent) under its Global Medium Term Note program. This is IFC's second issue in the Euro Slovak koruna market.
The one-year notes carry an annual coupon of 13.625 percent and were reoffered at a price of 100.00 percent. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds.
The lead manager of the issue is ING Bank N.V., London Branch The syndicate group comprises nine additional financial institutions which are active in the Slovak koruna market.
This transaction brings IFC's market borrowings to about US$3.7 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 triple A by both Standard & Poor's Corp. and Moody's Investors Service.
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