WASHINGTON, D.C., April __ --The IFC launched its first Multi-Currency Euro Note Issue, comprising a US Dollar (US$) tranche and Deutsche Mark (DEM) tranche respectively, under its Euro Medium Term Note program on April 4, 1995. The notes are for principal amounts of US$50 million and DEM 50 million. The notes were issued as discount notes, and have a maturity of three years. The US$ tranche carries an annual coupon of 5.00% per annum, an issue price of 95.51% and an annualized yield to investors of 6.702% p.a. The DEM tranche carries an annual coupon of 5.00% per annum, an issue price of 98.35% and an annualized yield to the investors of 5.613% p.a.
The arrangers and lead managers were Nikko Europe Plc and Nikko Bank (Deutschland) GmbH for the US$ and DEM tranches respectively. No syndicate was formed.
This transaction brings IFC's market borrowings to approximately US$1.7 billion for fiscal year 1995, which began on July 1, 1994.
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.
