WASHINGTON, D.C., November 10, 1999 ---
The International Finance Corporation launched a Eurosterling 100 million
borrowing (approximately US$162 million) under its Global Medium Term Note
program. The 21.5-year notes carry a coupon of 5.5 percent and an issue
price of 100.39 percent. The proceeds of the issue were swapped into US
dollar floating rate funds. The lead manager was Deutsche Bank, London.
This transaction represents the 19th borrowing for the fiscal year 2000,
and brings IFC's market borrowings for FY00 to about US$1.2 billion. The
funds which IFC raises in the international capital markets are used to
support the operations of IFC, including funding its lending operations.
The mission of IFC, part of the World Bank Group, is to promote private
sector investment in developing countries, which will reduce poverty and
improve people's lives. IFC finances private sector investments in the
developing world, mobilizes capital in the international financial markets,
and provides 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