WASHINGTON, D.C., June 28 -- On June 27, 1996, the International Finance Corporation (IFC) launched a Luxembourg franc (LUF) 2 billion issue (approximately US$63.8 million equivalent). The 8 1/3-year fixed-rate bonds carry an annual coupon of 6.375 percent and an issue price of 102.25 percent. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds.
The joint-lead managers are Banque Internationale à Luxembourg (BIL) and Crédit Communal de Belguique (CCB), with BIL as the bookrunner of the issue. An additional 17 financial institutions completed the syndicate group.
This transaction brings IFC's market borrowing to about US$868.9 million for fiscal year 1997, which, for funding purposes, began on June 18, 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.
