IFC launches $111 mln bonds in Brazilian currency

IFC launches $111 mln bonds in Brazilian currency
Wed Oct 31, 2007 11:24am EDT



WASHINGTON, Oct 31 (Reuters) - IFC, the World Bank branch
that deals with the private sector, said on Wednesday it
launched 200 million reais ($111 million) on its first
Brazilian-real denominated "Amazonia" bond.


The World Bank's International Finance Corp said the bond
aims to help deepen local markets and promote access to local
currency financing for local companies.


"We are delighted with the opportunity to contribute to
Brazil's domestic bond market through the Amazonia bond," said
Nina Shapiro, IFC vice president, in a statement.


She said the bond would help facilitate the further
expansion of the fixed-rate domestic bond markets, and increase
access to long-term, fixed-rate financing for private
companies.


IFC also said the issue paves the way for future foreign
issuers.


The bonds carry a 11.96 maturity rate and have a final
maturity date of Jan. 3, 2011, the IFC said.


Banco ABN Amro Real S.A. was the lead arranger for the
issue, followed by Banco Itau BBA S.A. (ITAU4.SA: [url=http://www.reuters.com/stocks/quote?symbol=ITAU4.SA]Quote, Profile, Research).


The issue was 2.5 times oversubscribed and achieved a broad
distribution, with about 20 local investors participating,
including pension funds and mutual funds, the IFC added.