WASHINGTON, D.C., May 12—On May 8, 1997, the International Finance Corporation (IFC) launched a Polish zloty zero coupon indexed bond issue for the amount of PLN 150 million (approximately US$47 million equivalent) under its Global Medium Term Note program. This is IFC's second issue in the Euro Polish zloty market. The two-year bonds were issued at a price of 70.75 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. The syndicate group comprises five additional financial institutions which are active in the Polish zloty 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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