IFC Flips To Floating After Fixed Issue

  • 09 May 2006
Email a colleague
Request a PDF
The International Finance Corp. has entered a swap to receive floating rates after placing a fixed-rated bond. The U.S. dollar swap was arranged off the back of a USD1 billion, 5.125%, five-year note issue by the private-sector arm of the World Bank Group.

John Borthwick, IFC deputy treasurer and head of funding in Washington, D.C., said IFC swaps all funding, regardless of currency, into floating-rate U.S. dollars. It enters this particular swap once every year (DW, 5/16/05). The swap locked in April 25, when the deal priced and settled May 2. BNP Paribas and HSBC led the deal, which was issued at 29 basis points over U.S. Treasuries.

Borthwick declined to specify the floating rate received or name the counterparties, but said the IFC has swap arrangements with most big A-rated international financial institutions. It will enter about 30 transactions this year.
  • 09 May 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 258,439.97 1161 8.49%
2 Citi 234,461.54 980 7.70%
3 Bank of America Merrill Lynch 200,720.52 825 6.59%
4 Barclays 186,521.37 765 6.13%
5 Goldman Sachs 145,264.65 606 4.77%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 31,351.09 133 7.76%
2 Credit Agricole CIB 27,432.69 116 6.79%
3 JPMorgan 23,350.32 62 5.78%
4 Bank of America Merrill Lynch 22,852.01 62 5.65%
5 UniCredit 20,250.58 112 5.01%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,160.55 49 10.08%
2 Morgan Stanley 7,744.92 38 9.57%
3 Goldman Sachs 6,966.15 37 8.61%
4 Citi 5,856.44 44 7.24%
5 UBS 4,823.67 25 5.96%