[Federal Register Volume 59, Number 36 (Wednesday, February 23, 1994)] [Unknown Section] [Page 0] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 94-4135] [[Page Unknown]] [Federal Register: February 23, 1994] VOL. 59, NO. 36 Wednesday, February 23, 1994 ======================================================================= ----------------------------------------------------------------------- Agency for International Development Loan Guarantees to Israel; Notice of Investment Opportunity The Government of Israel (the ``GOI'') wishes to select managing underwriters for the structuring and sale of U.S. Agency for International Development (``USAID'')-guaranteed loans. The USAID- guaranteed loans have been authorized by Public Law 102-391, and are being provided in connection with Israel's extraordinary humanitarian effort to resettle and absorb immigrants into Israel from the republics of the former Soviet Union, Ethiopia and other countries. The legislation authorizes the guaranty by USAID of up to $10 billion principal amount of loans over the next five years, with a maximum of $2 billion in loans, offered in one or more tranches, to be guaranteed in each of the five fiscal years. This Notice is in connection with the GOI's selection of managing underwriters for an offering of up to $1.563 billion contemplated to be made under the authorization for the current fiscal year. The GOI would like to receive proposals from interested underwriters on an expedited basis. A Request for Proposals (``RFP'') will be available from the GOI on or about February 21, 1994. Proposals must be submitted, in accordance with RFP, by 4:00 p.m. on March 1, 1994. For information regarding the submission of proposals, please contact Mr. Eliahu Ziv-Zitouk, Chief Fiscal Officer, Ministry of Finance of the Government of Israel, 350 Fifth Avenue, New York, NY 10118 (fax: 212/736-2759). To accomplish the GOI's objectives, the GOI's lead manager must at a minimum: 1. Perform and discuss with the GOI and its financial advisor a complete quantitative analysis of the cash flows generated by the proposed structures and proposed pricing of securities; 2. Complete the underwriting of all securities offered for sale; 3. Establish and maintain a post-sale trading market for the securities; and 4. Coordinate all activities relating to the proposed financing plan with the GOI and its financial advisor. Selection of underwriters and the terms of the loans are initially subject to the individual discretion of the GOI and thereafter subject to approval by USAID. In order to be eligible for selection as a managing underwriter, an institution must be a member of the National Association of Securities Dealers, and otherwise meet legal requirements for serving in such role. The full repayment of the loans will be guaranteed by USAID. To be eligible for an USAID guaranty, the loans must be repayable in full no later than the thirtieth anniversary of the disbursement of the principal amount thereof. The USAID guaranty will be backed by the full faith and credit of the United States of America and will be issued pursuant to authority in Section 226 of the Foreign Assistance Act of 1961, as amended. Disbursements under the loans will be subject to certain conditions required of the GOI by USAID as set forth in agreements between USAID and the GOI. Additional information regarding USAID's responsibilities in this guaranty program can be obtained from the undersigned: Room 3328, New State, Washington, DC 20523-0030, Telephone: 202/647-6504. Dated: February 17, 1994. Michael G. Kitay, Assistant General Counsel, Agency for International Development. [FR Doc. 94-4135 Filed 2-22-94; 8:45 am] BILLING CODE 6116-01-M