Washington, D.C., May 12, 1993 -- The International Finance Corporation (IFC) today launched a Japanese yen 40 billion bond issue (US$356 million equivalent). The five-year bonds carry a coupon of 4 3/8% per annum and were priced at 99.76 percent of par. The issue represents IFC's single largest market borrowing ever. It is also the Corporation's first Euroyen bond issue. This issue, along with other IFC borrowings undertaken since July 1, 1992, brings IFC's total market borrowings to US$1.257 billion for this fiscal year (FY). IFC anticipates a FY 1993 borrowing program of up to US$1.4 billion. Lead manager for the issue is Nikko Europe PLC, with DKB International Limited and Mitsubishi Finance International PLC as joint leads. Ten additional financial institutions complete the underwriting group. The proceeds will be swapped into floating rate US dollars and used to help fund IFC's investment activities in its developing member countries. IFC is a member of the World Bank Group and the largest source of fin
ancing for private sector companies in developing countries. Its long-term debt is rated Triple A by both Standard & Poor's and Moody's Investor Services. (30)
