WASHINGTON, D.C., Sept. 28 -- The International Finance Corporation (IFC) launched its fourth warrant issue on September 16, 1994, offering 1.7 million U.S. Dollar call/Japanese Yen put warrants with an aggregate underlying currency face value of US$170 million. The put warrants carry a strike price fixed at an exchange rate of 97.0 Japanese yen per U.S. dollar and expire April 5, 1996. Each warrant represents an underlying currency value of US$100 and was offered at a price of US$6.625 per warrant. The warrants are listed on the American Stock Exchange. The warrants are expected to rise in value if the dollar appreciates against the yen. They are intended to provide IFC with greater market flexibility by expanding the Corporation's investor base. The cost savings achieved through this transaction will benefit IFC's funding program. Smith Barney Inc. was the sole underwriter of this warrant issue. IFC is a member of the World Bank Group and the largest source of financing for private sector companies in devel
oping countries. Its long-term debt is rated triple A by Standard and Poor's and Moody's Investors Service.
