WASHINGTON, D.C., November 17, 1998 ---
The International Finance Corporation yesterday launched a Swiss Franc
(CHF) 100 million (approximately US$73 million) issue. The notes
with a maturity in December 2010 carry an annual coupon indexed on the
minimum performance of a selection of ten blue chip companies. The notes
were issued at a price of 100.00 percent of par. The proceeds of
the issue were swapped into US dollar floating rate funds. The lead
manager for the issue is Société Générale Bank & Trust, Zurich.
This transaction is the thirteenth borrowing for the fiscal year which
began on July 1, 1998, and brings
IFC's market borrowings for FY99 to about US$1,740 million. The notes will
be issued under the Global Medium Term Note program. The funds which
IFC raises in the international capital markets are used to support the
operations of IFC, including funding its lending operations.
IFC, part of the World Bank Group, fosters economic growth in the developing
world by financing private sector investments, mobilizing capital in the
international financial markets and providing technical assistance and
advice to governments and businesses. Its long-term debt is rated
triple-A by both Standard & Poor's and Moody's Investors Service.