• 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
  • SSAs out in force in dollars before Fed blocks window

    Public sector borrowers are piling into the dollar market at the start of the week, with a US Federal Reserve rate decision on Wednesday likely to shorten the issuance window.

    • 19 Sep 2016
  • Sustainable and Responsible Capital Markets Awards 2016: the Winners

    GlobalCapital announces the results of its first full scale, standalone set of Sustainable and Responsible Capital Markets Awards.

    • 07 Sep 2016
  • Japanese buyers pile into Kangas

    The long end of the Kanga curve saw action this week, as Japanese investors hunted for yieldy paper.

    • 25 Aug 2016
  • Jumbos return as market readies for September rush

    The European Investment Bank returned to capital markets with a splash on Tuesday, indicating that, what passed for 2016’s summer break is coming to an end.

    • 24 Aug 2016
  • Funding scorecard: supranationals

    This week's scorecard looks at where supranationals are in their funding programmes ahead of the September rush.

    • 19 Aug 2016
  • Abandoned currency peg opens naira door

    The International Finance Corporation has brought its second Nigerian naira bond of the year, just one week after its first issuance in the currency since August 2015.

    • 16 Aug 2016
  • IFC sells first naira bond since currency peg dropped

    The International Finance Corporation (IFC) has sold the first Nigerian naira bond since the country's central bank abandoned the currency’s peg to the dollar.

    • 11 Aug 2016

IFC data breakdown

Sources: IFC, Dealogic

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

IFC data

Dealer League Table IFC

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jan 2017
1 JPMorgan 8.60 1 61.17%
2 ING 5.46 1 38.83%
Subtotal 14.06 2 100.00%
Total 14.06 2 100.00%
Key officials Jim Yong Kim: president
Jin-Yong Cai: executive vice president and CEO
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
  • 17 Jan 2017
1 Morgan Stanley 1,158.55 2 14.54%
1 JPMorgan 1,158.55 2 14.54%
1 HSBC 1,158.55 2 14.54%
4 Bank of America Merrill Lynch 1,018.09 1 12.78%
5 Danske Bank 662.83 1 8.32%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Goldman Sachs 3,533.69 6 12.02%
2 JPMorgan 3,387.74 5 11.52%
3 HSBC 3,118.62 6 10.60%
4 Citi 3,063.28 6 10.42%
5 TD Securities Inc 2,869.30 6 9.76%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Jan 2017
1 JPMorgan 3,111.53 5 17.78%
2 Bank of America Merrill Lynch 2,735.23 4 15.63%
3 HSBC 2,589.66 3 14.80%
4 LBBW 2,024.41 4 11.57%
5 Barclays 1,213.11 3 6.93%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 HSBC 8,562.94 16 11.90%
2 JPMorgan 7,530.41 18 10.46%
3 Barclays 7,389.83 18 10.27%
4 Bank of America Merrill Lynch 6,234.66 16 8.66%
5 Citi 4,953.38 17 6.88%