WASHINGTON, D.C., July 5 -- On June 21, 1996, the International Finance Corporation (IFC) launched a Yen 8.5 billion Dual Currency Note issue under its Euro Medium Term Note program. The 2-year fixed-rate notes carry a semi-annual coupon of 6.84 percent per annum in Yen and an issue price of 100 percent. The notes are redeemable at par, in Australian dollars. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds.
The lead manager and bookrunner of the issue is Kokusai (Europe) Limited, with Merrill Lynch International Limited, as a co-lead manager.
This transaction, together with transactions launched subsequent to June 21, brings IFC's market borrowing for the fiscal year 1997 to US$923 million equivalent.
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 AAA/Aaa by both Standard & Poor's Corp. and Moody's Investors Service.
