By Cristal Cody
Tupelo, Miss., July 24 – International Finance Corp. (Aaa/AAA) priced $2 billion of 2.875% five-year notes on Tuesday at a spread of mid-swaps plus 2 basis points, or Treasuries plus 15.25 bps, according to an informed source.
The notes were initially talked to print with a spread in the mid-swaps plus 4 bps area with guidance later tightened to the mid-swaps plus 3 bps area.
Barclays, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and TD Securities (USA) LLC were the bookrunners.
Washington, D.C.-based International Finance is a member of the World Bank Group.
| Issuer: | International Finance Corp.
|
| Amount: | $2 billion
|
| Description: | Notes
|
| Maturity: | July 31, 2023
|
| Bookrunners: | Barclays, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and TD Securities (USA) LLC
|
| Coupon: | 2.875%
|
| Spread: | Mid-swaps plus 2 bps, or Treasuries plus 15.25 bps
|
| Trade date: | July 24
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Price guidance: | Mid-swaps plus 3 bps area; initial price talk at mid-swaps plus 4 bps area
|
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