June 7 (SeeNews) - The International Finance Corporation (IFC) said it has sold its first bond issue denominated in Romanian lei to mobilise international and domestic investors to provide local currency financing.
The 70 million lei ($17.3 million/15.3 million euro) bond comes with a one-year maturity and was sold to a combination of international and domestic investors, with Societe Generale acting as a sole arranger, the IFC said in a statement on Tuesday.
The bond is issued under IFC’s Global Medium Term Note (GMTN) programme, under which it can issue bonds denominated in many currencies when market opportunities align with the funding needs of private sector clients, the corporation said.
“The issuance of IFC’s first leu-denominated bond is in line with IFC’s strategy to source long-term funding in an increasing number of currencies and expand the menu of local currency financing options for our clients,” the Vice President and Treasurer of IFC, Jingdong Hua, said in a statement.
IFC has issued bonds in 25 local currencies in the fiscal year 2017, including the Georgian lari, Kazakh tenge, Brazilian real, Colombian peso, Singaporean dollar, Indian rupee, and Nigerian naira.