WASHINGTON, D.C., Oct. 10—On October 9, 1997, the International Finance Corporation (IFC) increased the Hong Kong dollar 400 million issue by an additional HK$ 100 million (approximately US$13 million equivalent) to HK$ 500 million. The terms remain the same as the original issue, i.e, a semi-annual coupon of 7.05 percent per annum, and a maturity of 3 years. The proceeds of the increase will be also swapped in US dollars floating rate funds.
The lead manager of the increase is Oakreed Financial Services Ltd. The syndicate group comprised the same financial institutions as the original issue.
This transaction brings IFC's market borrowing to about US$1,265 million equivalent for the fiscal year 1998 which began on June 19, 1997.
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.
