WASHINGTON, D.C., Aug. 3 -- The International Finance Corporation (IFC) launched a Canadian dollar zero-coupon bond issue with a face value of Can$300 million on August 3, 1994. The six-year maturity zero-coupon bonds were issued at a fixed reoffer price of 59.93 percent of par, resulting in net proceeds to IFC of about US$128 million equivalent. This is IFC's second issue in the Canadian dollar market and its first zero-coupon issue. The proceeds of the issue will be swapped into U.S. dollar floating-rate funds. The arranger and lead manager of the issue was Daiwa Europe Limited. An additional nine co-lead managers and fifteen co-managers completed the syndicate group. This transaction brings IFC's market borrowings to about US$430 million equivlent 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. an
d Moody's Investors Service. (30)
