Announcement of IFC to Provide New Argentinian Credit Line with Equity Underwriting Feature September 26, 1988

Intecrnational Finance Corpora/ic) FOR RELEASE: September 26, 1988 CONTACT: Monique Amaudry Press release no. 89/13 (202) 473 9331 IFC TO PROVIDE NEW ARGENTINIAN CREDIT LINE WITH EQUITY UNDERWRITING FEATURE The International Finance Corporation (IFC) will provide a new US$10 million line of credit to Argentinian private sector companies. IFC, an affiliate of the World Bank, is the largest source of direct financing for private enterprises in developing countries. The line of credit will be used by IFC to provide medium-term loans for medium-sized private sector companies in Argentina under the agency of Banco Roberts. The size of individual loan amounts may range from US$0.25 million to US$1.5 million. Up to US$5 million of the line may be used by IFC to underwrite, in partnership with Banco Roberts, new issues of equity by private sector companies in Argentina. IFC may underwrite between US$50,000 and US$1.5 million per issue. Banco Roberts is a market leader in investment banking in Argentina; it is a privately-owned commercial and investment bank engaged in equity issues, debt capitalizations, and mergers and acquisitions business. It also provides a wide range of commercial banking services and acted as agent for an earlier IFC line of credit.