IFC

In the last year that sovereigns, supranationals and agencies could enjoy the effects of the European Central Bank’s quantitative easing programme — but still had to cope with the Fed pushing up rates — GlobalCapital’s SSA team used its editorial judgement, with inspiration from GC’s world-famous bond comments and patented BondMarker app, to pick what it felt were the top trades of the year. The team strove to find deals that were not just the biggest — it looked for trades that set pricing markers, were innovative and brave or that made an impression in other ways. GC presents the winners here. Congratulations to the issuers and banks involved.

The World Bank has appointed a replacement for its departing treasurer Arunma Oteh.

The International Finance Corp (IFC) has committed $150m to a green bond issued by China Banking Corp, supporting the Philippines’ efforts in fighting climate change.

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

Public sector bond market participants are growing increasingly frustrated at the pace of the implementation of Ester, the alternative euro risk-free rate to replace Euribor. Borrowers are unable to plan for, let alone issue, a bond linked to the benchmark without the rate being published by the European Central Bank. That leaves the euro far behind other markets where Libor is being replaced, writes Burhan Khadbai.

The International Finance Corp has promoted internally to appoint a deputy treasurer based in London.

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

Rating: Aaa/AAA

The sterling public sector market returned from the summer with a number of issuers heading for seven year maturities. Bank treasuries were the main driver behind the move, with the tenor offering an attractive pick-up over three month sterling Libor as a result of a widening in seven year swap spreads.

There is little demand for another public sector issue referenced to Sonia, the preferred alternative to sterling Libor, in the wake of the European Investment Bank's successful deal in June, a senior SSA portfolio manager said this week.

International Finance Corporation printed a record size for its seven year on Tuesday, with huge backing from bank treasuries, despite the trade offering no new issue concession.

International Finance Corporation mandated banks for a new sterling benchmark deal on Monday, with the issuer returning to the currency for the second time this year.