IFC prints Canadian dollar green giant

By Frank Jackman
05 Sep 2019

The International Finance Corp (IFC) hit screens this week with its first Canadian dollar green bond. The C$750m ($567m) print was the issuer’s largest ever in the currency, as well as the tightest an international SSA issuer has printed against the Canadian Mortgage Bond (CMB) curve, a large and liquid Canadian dollar benchmark.

Bookrunners BMO Capital Markets, RBC Capital Markets and Scotiabank posted initial price thoughts of mid-swaps plus 5bp early on Tuesday, giving the note about 3bp of pick-up compared to the five year CMB and 38bp over Canadian govvies.

The deal was the tightest an international ...

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