IFC LAUNCHES CZECH KORUNA BOND OFFERING
Amy Conran
Phone:(202) 473-9119
Fax: (202) 676-0365
E-mail: ACONRAN@Worldbank.org
WASHINGTON, D.C., July 3 -- On July 2, 1996,
the International Finance Corporation (IFC) launched a Czech koruna (CZK)
bond issue for the amount of CZK 1.5 billion (approximately US$54.5 million
equivalent) through IFC's Euro Medium-Term Note Program. The 2-year bonds
carry an annual coupon of 11 percent and an issue price of 100.80 percent.
The proceeds of the issue will be swapped into U.S. dollar floating-rate
funds.
The lead manager of the issue is ING Bank N.V., London Branch. An additional
11 financial institutions completed the syndicate group.
This transaction brings IFC's market borrowing to about US$923 million
for the 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 AAA/Aaa by both Standard & Poor's Corp. and
Moody's Investors Service.
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