IFC

The International Finance Corporation on Tuesday brought the tightest priced five year dollar benchmark in three years, at a level that bankers said looked in line with the supranational’s curve. Despite the measly spread over swaps, higher outright yields likely helped buoy demand.

The International Finance Corporation is set to bring its first five year dollar global benchmark in two years, and could achieve an even tighter spread than Nordic Investment Bank’s multi-year low two weeks ago, according to on-looking bankers weighing fair value.

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

The International Finance Corporation (IFC) visited the Canadian dollar market for the first time in more than 10 years this week, matching its largest ever deal in the currency for size.

Canvest Environmental Protection Group Company has increased its latest offshore borrowing to HK$1.409bn ($180m).

A pair of seasoned green bond issuers brought deals in the format this week — but each opted to print in a currency in which it had not sold green bonds before.

A pair of supranational issuers are this week bringing new currencies to their green funding offerings.

Nigeria’s Indorama Eleme Fertilizer & Chemicals has taken $1bn in debt financing, in the second use of the International Finance Corporation’s Managed Co-Lending Portfolio Programme in a week.

Mobile network operator Zain Iraq has signed a $269m funding package from multilateral and commercial banks, as international financing begins creeping back into the war-ravaged country.

The International Finance Corp (IFC) issued the first internationally rated triple-A green bond denominated in peso last week, raising $90m.

The world’s first bond denominated in Uzbekistani soum was listed on the London Stock Exchange on Wednesday morning. The bond, issued by the International Finance Corporation, is expected to be the first step in the country’s growing ambitions for a capital markets presence.

Supranationals expect to increase the local currency portion of their funding activities over the next few years, thanks to tightening financial conditions in dollars.