WASHINGTON, D.C., Nov. 22 -- The International Finance Corporation (IFC) launched on November 16, 1995 a GRD 40 billion floating rate note issue (approximately US$171.5 million equivalent), its third issue in the Greek drachma market. The bonds have a final maturity of December 15, 1998, carry a coupon of 1-month ATHIBID minus 0.40 percent and have an issue price of 100.10 percent. The proceeds of the issue were swapped partially into U.S. dollars and partially into Deutsche marks. The lead managers of the issue are National Mortgage Bank of Greece and Societe Generale (Athens Branch). A group of 20 Greek and international banks completed the syndicate. This transaction brings IFC's market borrowings to approximately US$2.1 billion for fiscal year 1996, which began on July 1, 1995. IFC is a member of the World Bank Group and is the largest multilateral source of equity and loan finance for private sector projects in developing countries. Its long-term debt is rated triple A by both Standard & Poor's Corp. and
Moody's Investors Service.
