WASHINGTON, D.C., Jan. 14 -- The International Finance Corporation (IFC) today entered the international capital markets for the first time in 1993 with the launch of a US$300 million EUROBOND offer. The three year maturity fixed rate bond issue will carry a coupon of 5 1/8% per annum payable annually and was launched at an issue price of 101.0975%. Reoffer was at 99.91%.
IFC is a member of the World Bank Group and is the largest source of financing for private sector companies in developing countries. Its long-term debt is currently rated Triple A by both Standard & Poors and Moody's Investors Services.
Morgan Stanley is the arranger and lead manager. Senior co-lead managers include Credit Suisse First Boston, Deutsche Bank Capital Markets Ltd. and Sanwa Bank. A management group of seven other financial institutions has been formed.
The offering will help meet IFC's increased borrowing requirements in the coming years as the Corporation seeks to fund the growth in its business activities in Eastern Europe, Asia and elsewhere.
