IFC paves way for further sterling supply
The International Finance Corporation (IFC) returned to the sterling market after a two year absence on Tuesday, opting to court central bank demand with a long two year deal. Sterling syndicate officials are hoping that other issuers will follow the IFC’s lead and take advantage of an improved basis swap into dollars.
HSBC, RBC Capital Markets and RBS priced the 0.625% £250m December 2015 notes at 25bp over the 4.75% September 2015 Gilt, in line with guidance at 25bp area. Bankers at the leads declined to disclose the size of the order book.
The pricing was in line with comparable
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