IFC Enters Rates Swap On USD1 Billion Bond

International Finance Corporation, the private sector arm of the World Bank Group, has entered into a floating-rate U.S. dollar swap off the back of a USD1 billion, five-year bond issue with a 4% coupon.

  • 13 May 2005
Email a colleague
Request a PDF

International Finance Corporation, the private sector arm of the World Bank Group, has entered into a floating-rate U.S. dollar swap off the back of a USD1 billion, five-year bond issue with a 4% coupon.

Nina Shapiro, IFC treasurer in Washington, D.C., explained the corporation entered the swap because its balance sheet is in floating rate U.S. dollars. She said the IFC always enters into swaps after issuing bonds to avoid carrying currency and maturity risk, adding if the client wants local currency, the IFC swaps again.

Shapiro would not name the counterparties, whose credit rating must be at least single A, and declined to specify the floating rate received. BNP Paribas, Citigroup and UBS led the deal. IFC is rated AAA by Standard & Poor's and Moody's Investors Service.

  • 13 May 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 357,043.08 1340 9.06%
2 JPMorgan 319,078.96 1445 8.09%
3 Bank of America Merrill Lynch 316,666.04 1099 8.03%
4 Goldman Sachs 236,643.87 789 6.00%
5 Barclays 230,494.28 891 5.85%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 34,591.50 163 6.58%
2 Deutsche Bank 34,293.84 117 6.53%
3 Bank of America Merrill Lynch 31,293.04 95 5.96%
4 BNP Paribas 27,578.61 168 5.25%
5 SG Corporate & Investment Banking 23,982.83 136 4.56%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,745.92 80 8.86%
2 Morgan Stanley 16,323.54 83 7.32%
3 Citi 15,946.50 94 7.15%
4 UBS 15,487.17 60 6.95%
5 Goldman Sachs 14,053.61 76 6.30%