WASHINGTON, D.C., April 30, 1998 -- On
April 29th, the International Finance Corporation (IFC) launched a Greek
Drachmae 10 billion (US$31,770,000 million equivalent) issue under its
Global Medium Term Note program. The 10-year notes carry an annual coupon
of 6.50 percent per annum and an issue price of 99.20 percent. The proceeds
of the issue will be swapped in US dollars floating rate funds. The lead
manager is Royal Bank of Canada Dominion Securities Inc.
This transaction brings IFC’s market borrowing to about US 3,870 million
for the fiscal year 1998 which began on July 1, 1997.
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 and Moody’s