• SNCF Réseau hits top of green range as IFC mulls visit

    SNCF Réseau on Wednesday printed at the upper end of its size expectations with its second ever green bond, while the International Finance Corporation looked at the possibility of printing in the green format over the next three months.

    • 22 Mar 2017
  • SSAs turn green as quarter winds up

    With public sector borrowers having reached advanced stages in their annual funding programmes as the first quarter comes to a close, focus is shifting to socially responsible bonds.

    • 22 Mar 2017
  • SRI spectacular: CEB to debut, SNCF mandates and IFC goes large

    The socially responsible bond pipeline ballooned on Tuesday, with a European supranational announcing a roadshow for a debut issue, a French agency mandating for a deal and a Washington supranational pricing a social bond in benchmark size for the first time.

    • 21 Mar 2017
  • Socially responsible week ahead

    A pair of public sector borrowers are set to bring socially responsible bonds this week, with one aiming at the dollar short end and the other at the long end of the euro curve.

    • 20 Mar 2017
  • Funding scorecard: supranationals

    This week's scorecard looks at the progress supranationals have made with their funding programmes this year.

    • 10 Mar 2017
  • Dollars still red hot for SSAs as EIB and KfW tipped to come

    SSA bankers are gearing themselves up for another round of dollar supply next week after the currency’s record breaking January. Buoyant conditions even allowed one issuer to bring a bulky benchmark, despite this week’s public holidays in Asia.

    • 02 Feb 2017
  • Funding scorecard: Supranationals

    This week's funding scorecard looks at the funding progress supranationals have made in their funding progress by the end of January.

    • 27 Jan 2017
  • Emerging market currency plays bring MTN world to life

    The MTN market is rapidly making up for a sedate start to the year with a flurry of niche currency trades, including the world’s first bond in Myanmar kyats.

    • 19 Jan 2017
  • Origin goes live with online private placement platform

    Origin, an electronic platform for private placement issuance, went live on Monday, with six investment banks and more than 20 borrowers having access to the beta version.

    • 09 Jan 2017
  • Sovereigns, supranationals and agencies deals of the year

    As a year where political upsets became the norm drew to a close, GlobalCapital picks the standout trades from a turbulent 2016.

    • 03 Jan 2017
  • EM currencies showing life with supra deals

    Two supranational borrowers have accessed capital markets for niche currency private placements in the past week, as investors spy possible re-entry points in currencies that have suffered throughout 2016.

    • 21 Dec 2016
  • MedLife rises after first Bucharest IPO for two years

    Shares in MedLife, Romania’s largest private healthcare provider, gained 3% on Wednesday after it completed the first Romanian IPO since June 2014.

    • 21 Dec 2016
  • Callable zero flood as US yields jump

    Appetite for 30 year callable zeroes in dollars has been bolstered by Donald Trump’s victory in the US elections and the resultant rise in bond yields around the world.

    • 24 Nov 2016
  • Post-Trump yield bump boosts callable zero bid

    Appetite for 30 year callable zeroes in dollars has been bolstered by Donald Trump’s victory in the US elections and the resultant hike in bond yields around the world.

    • 21 Nov 2016
  • Funding scorecard: supranationals

    This week's scorecard looks at the progress supranationals have made in their funding programmes.

    • 18 Nov 2016
  • BHP first of many with ‘forests’ bond?

    BHP Billiton’s partnership with the IFC for the world’s first ‘forests’ bond has inspired others to look at similar projects.

    • 10 Nov 2016
  • IFC brings new product to US retail market

    The International Finance Corporation has launched its first short dated index linker, which it has designed to draw in funds from US retail investors.

    • 10 Nov 2016
  • IFC shakes up SRI with forests bond

    After three years of arduous development by the International Finance Corporation, the first 'forests bond' hit screens on Monday, and the issuer hopes to come back for more.

    • 03 Nov 2016
  • Forests bonds: a step but not a solution

    The IFC’s new 'forests bond' has much to recommend it, but like so many other green investments, its main value lies in publicity, not purely in financing.

    • 01 Nov 2016
  • IFC adds A$50m to Kanga 10s

    The International Finance Corporation tapped a July 2026 Australian dollar bond for A$50m ($38.1m) on Monday. As part of its efforts to increase the minimum size of its 10 year Kangaroo taps from A$20m to A$50m, the IFC found investors to top up an initial A$30m reverse enquiry.

    • 24 Oct 2016
  • Funding scorecard: supranationals

    This week's funding scorecard looks at the progress supranationals have made in their funding programmes.

    • 14 Oct 2016
  • IFC ready for renminbi return

    Already a pioneering issuer in the currency, the International Finance Corporation (IFC) believes greater regulatory clarity will provide a fresh boost to its onshore and offshore renminbi funding plans, Monish Mahurkar, director for treasury market operations, told GlobalRMB.

    • 13 Oct 2016

IFC data breakdown

Sources: IFC, Dealogic

Credit rating Aaa/AAA
Basel II risk weighting
0%
Headquarters
2121 Pennsylvania Avenue, NW,
Washington, DC 20433 USA

IFC

Dealer League Table IFC

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 407.76 19 21.89%
2 TD Securities Inc 242.33 2 13.01%
2 Deutsche Bank 242.33 2 13.01%
4 Citi 212.42 8 11.40%
5 ANZ 204.81 1 11.00%

Key
officials

Ben Powell, head of funding

Marcin Bill, financial officer

Flora Chao, senior financial officer

Elena Panomarenko, senior financial officer

Yuri Kuroki, associate financial officer

Zauresh Kezheneva, financial analyst

Overview
commentary
The International Finance Corporation (IFC) is a member of the World Bank group. It provides
investment and advisory services to build the private sector in developing countries. The IFC was
established in 1956 and ended that year with 56 member countries. Membership has increased
gradually, standing at 184 at the end of 2011-2012 financial year.

The member countries provide IFC’s authorised share capital of $2.58bn, 51% of the capital are held by G7 countries, collectively determine its policies, and approve investments.
Guarantee All of IFC's notes constitute direct, unconditional, general and unsecured obligations of the corporation. The notes are not obligations of the IBRD or of any of its shareholders and IFC's notes are not fully or partially guaranteed by the World Bank or any of its shareholders.
Ownership
structure
IFC has 184 Member Countries and 51% of the capital is held by G7 countries. IFC has strong shareholder support and is the only supranational with fully paid-in capital, exclusively in US dollars.
Private
placement
policy
IFC aims to maintain its position as an active and flexible issuer of plain vanilla and structured notes and works on reverse enquiry basis offering extensive products including interest rate linked, FX linked, index linked, equity linked, FRNs, emerging market currencies/linkers, Bermudan and European callables. Minimum size $3 million equivalent; maturities ranging from 1 to 30 years.

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 21 Mar 2017
1 Barclays 7,850.85 11 9.64%
2 BNP Paribas 7,280.82 10 8.94%
3 JPMorgan 6,400.12 9 7.86%
4 Citi 6,397.23 7 7.85%
5 HSBC 5,782.53 9 7.10%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 07 Mar 2017
1 JPMorgan 13,983.25 38 11.62%
2 Citi 12,835.76 34 10.66%
3 TD Securities Inc 9,199.65 20 7.64%
4 HSBC 8,885.36 22 7.38%
5 Deutsche Bank 7,825.80 21 6.50%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Mar 2017
1 Barclays 16,566.61 33 9.78%
2 JPMorgan 14,128.94 27 8.34%
3 Bank of America Merrill Lynch 12,288.23 26 7.26%
4 Credit Agricole CIB 11,879.83 26 7.02%
5 HSBC 11,124.72 31 6.57%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Mar 2017
1 JPMorgan 33,561.40 143 8.59%
2 Citi 28,071.02 97 7.18%
3 Barclays 27,149.68 62 6.95%
4 HSBC 24,052.21 82 6.16%
5 Bank of America Merrill Lynch 21,972.67 68 5.62%