IFC

Public sector borrowers are staying conservative in the dollar market this week, opting for short dated trades or floating rate notes. The trend is likely down to issuers having one eye on expected Federal Reserve rate increases in the US, said bankers.

The International Finance Corporation (IFC) announced on Monday that it will launch a five year floater on Tuesday, becoming the latest borrower to tap into the demand from investors looking for protection from rising rates. It will share the market with three year benchmarks from Municipality Finance and Corporacíon Andina de Fomento (CAF).

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

International Finance Corp (IFC) and ANZ have launched a $150m fundraising for Indonesia Infrastructure Finance (IIF) into syndication.

Garanti Bank is expected to issue the first green mortgage-backed Turkish covered bond, which will be privately placed with the International Financial Corporation (IFC) and certified by a third party.

Two supranationals have printed Turkish lira denominated paper, taking advantage of a surge in demand for the currency.

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

A surge in demand for Russian rouble paper could have been brought to a premature end by a US missile attack on Syria on April 7, but market participants are confident that issuance will continue.

Rating: Aaa/AAA

Only one SSA issuer took advantage of strong conditions in the dollar market this week. Bankers said that there could be more supply next week, though most issuers are so well-funded that deals are likely to remain thin on the ground.

Japanese investors on the hunt for European SSA credit drove a flurry of long dated Australian dollar deals on Wednesday.

The International Finance Corp could use the Kangaroo market to expand its burgeoning green bond programme.