The International Finance Facility for Immunisation (IFFIm) today announces its intention to launch the institution's inaugural bond later this year
London, 27 July 2006 - The International Finance Facility for Immunisation (IFFIm)1 today announces its intention to launch the institution's inaugural bond later this year. IFFIm is a new international development institution designed to accelerate the availability of funds to be used for health and immunisation programmes through the GAVI Alliance in 70 of the poorest countries around the world.
The World Bank, acting in its capacity as IFFIm's Treasury Manager, confirmed that IFFIm's inaugural financing would be a benchmark US$ bond. The inaugural transaction is expected to be launched in the US$ market in a benchmark maturity and a size of US$500 million to US$1 billion, taking into account IFFIm's financing needs for immunisation programmes in the next months and investor feedback. IFFIm also announced that the joint-lead managers for this first benchmark transaction will be Deutsche Bank and Goldman Sachs.
The first bond is expected to be launched later this year, after arrangements for the EMTN programme that will be used to document this and future IFFIm bond financings have been finalised. Meetings with key investors around the world will be conducted prior to issuance. Background information can be obtained at www.iff-immunisation.org
1International Finance Facility for Immunisation Company, 2 Lambs Passage, London EC1Y 8BB. Registered in England and Wales as a company limited by guarantee with number 5857343 and as a charity with number 1115413