By Aleesia Forni
Virginia Beach, Sept. 22 – International Finance Corp. sold an upsized $400 million add-on to its existing floating-rate bonds (Aaa/AAA) due Dec. 15, 2020 to yield Libor plus 3 basis points on Tuesday, a market source said.
The notes carry a coupon of Libor plus 1 bp and priced in line with talk.
BofA Merrill Lynch, Barclays and BMO Capital Markets Corp. are the banks on the deal.
The original $500 million issue sold on Aug. 17.
The World Bank member and lender to the private sector in developing countries is based in Washington, D.C.
| Issuer: | International Finance Corp.
|
| Amount: | $400 million, upsized from $200 million
|
| Description: | Bonds
|
| Maturity: | Dec. 15, 2020
|
| Bookrunners: | BofA Merrill Lynch, Barclays, BMO Capital Markets Corp.
|
| Coupon: | Libor plus 1 bp
|
| Yield: | Libor plus 3 bps
|
| Trade date: | Sept. 22
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Price guidance: | Libor plus 3 bps area
|
| Total issue size: | $900 million, including $500 million priced on Aug. 17
|
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