WASHINGTON, D.C., Sept. 16 -- The International Finance Corporation (IFC) launched its second warrant issue on September 15, 1993, offering a total of four million U.S. dollar call/yen put warrants with an aggregate underlying currency face value of US$200 million.
The warrants carry a strike exchange rate of 106.10 YEN/USD and have an expiration date of two years from the initial settlement date. Each warrant represents an underlying currency value of US$50 and was offered at a price of US$3.50. The warrants are listed on the American Stock Exchange.
"The issue provides IFC with greater market flexibility by expanding the Corporation's investor base," said Richard Frank, IFC's Vice President for Finance. "The cost savings achieved through this transaction will benefit IFC's funding program."
Goldman, Sachs and Co. was the sole underwriter of this warrant issue.
IFC is a member of the World Bank Group and the largest multilateral source of financing for private sector companies in developing countries. Its long-term debt is rated triple A by Standard and Poor's and Moody's Investors Service
