WASHINGTON, D.C., Oct. 17 -- The International Finance Corporation (IFC) launched its first Euroyen zero-coupon bond issue, which has a face value of Japanese Yen (JPY) 20 billion, on October 13, 1994. The five-year maturity zero-coupon bonds were issued at 82.10 percent of par, resulting in net proceeds to IFC of about US$164 million equivalent. This is IFC's fifth borrowing denominated in JPY since July 1994 and its second zero-coupon issue. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds. The sole lead manager of the issue is Norinchukin International plc. This transaction brings IFC's market borrowings to about US$844.4 million for fiscal year 1995, which began on July 1, 1994. IFC, a member of the World Bank Group, is the largest multilateral source of financing for private sector companies in developing countries. Its long-term debt is rated triple A by both Standard & Poor's Corp. and Moody's Investors Service.
