Slaughter and May advised International Finance Facility for Immunisation Company (‘IFFIm’) on its issuance of US$700,000,000 Floating Rate Notes due 2016 (the ‘Notes’) pursuant to its Global Debt Issuance Programme.
The Notes provide investors with an opportunity to fund immunisation programmes by the GAVI Alliance, helping protect millions of children in the world’s poorest countries against preventable diseases.
The issuance of the Notes, which is IFFIm’s first US dollar benchmark issuance since its US$1,000,000,000 inaugural bond issue in 2006, was lead managed by Daiwa Capital Markets and Deutsche Bank. The Notes mature on 5 July 2016 and have a quarterly coupon of +19 basis points over the 3-month USD Libor rate.
Davis Polk & Wardwell LLP advised as to U.S. law.