WASHINGTON, D.C., June 11—On June 11, 1997,
the International Finance Corporation (IFC) launched a Czech Koruna bond
issue for the amount of CZK 500 million (approximately US$16 million equivalent)
under its Global Medium Term Note program. This is IFC's fourth issue in
the Euro Czech koruna market. The one-year notes carry an annual coupon
of 16 percent and were issued at a price of 100.90 percent. The proceeds
of the issue will be swapped into U.S. dollar floating-rate funds.
The lead manager of the issue is Hambros Bank Ltd., London. The syndicate
group comprises 11 additional financial institutions which are active in
the Slovak koruna market.
This transaction brings IFC's market borrowings during the fiscal year
1997, which began on July 1, 1996, to about US$4.1 billion.
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 Corp. and
Moody's Investors Service.