IFC, Daiwa announce second bond to support microfinance in developing countries

Microfinance Focus, Sep 2, 2010:  World Bank’s International Finance Corporation (IFC) and Daiwa Securities Group have announced their plan to issue a bond later this month to expand access to finance for poor and low-income entrepreneurs in developing countries. This will be IFC’s second microfinance bond.  The first issue in November 2009 raised about 25 billion Japanese yen.

The bond is expected to raise up to $323 million. IFC will invest an amount at least equal to the bond proceeds to support microfinance activities.  The notes will be issued under IFC’s Global Medium-Term Note Program.

The issue will be arranged by Daiwa Securities Capital Markets Co. Ltd., the wholesale securities firm under Daiwa Securities Group, and distributed by Daiwa Securities Co. Ltd. to Japanese retail and institutional investors. Daiwa Securities Group Inc., headquartered in Tokyo, Japan, is the holding company of group companies that provide a broad range of investment and financial services.

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