IFC

A supranational issuer has mandated for a green bond — a deal that could take issuance in the final three months of the year within touching distance of the busiest ever quarter for the instrument.

Beijing Enterprises Water Group has returned to the international loan market for a $200m deal, which comes with a $100m greenshoe. The money is being raised under the International Finance Corp’s A/B programme, with the supranational as lender of record.

India Infrastructure Finance Company (IIFCL) is looking to join the growing pipeline for offshore rupee-denominated bonds, or Masala bonds. Although this is encouraging for the country’s regulators who hope to internationalise its currency by promoting the asset class, market participants warn that there is a lot of work to be done before the first issue comes to fruition.

Plenty of demand is driving SSA issuance to the shorter end of the curve and into green bonds this week.

Read on to see how far selected supranationals are through with their funding for the year.

Public sector borrowers have jumped on demand for Brazilian real notes with a flurry of medium term notes — and there is more in the pipeline, said niche currency and MTN bankers.

Indonesia Infrastructure Finance (IIF) has returned to the offshore loan market after more than a year for a $150m fundraising, which is backed by the International Finance Corporation (IFC).

Bangladesh’s Atiur Rahman appears to be one of the relaxed and contented central bank governors in Lima this week, having avoided the commodity crash and sitting on substantial foreign currency reserves. The taka is also about to make its debut in the international bond markets, with the IFC set to issue in the currency

Asian green bonds are finally taking off, with an increase in dealflow and the emergence of new markets set to transform the potential of the asset class. But the investor base remains largely non-specialised, with the green credentials of a deal often of little importance. Christina Khouri reports.

Read on to see how far selected supranationals have progressed with their funding for the year.

Supranationals have sold a series of MTNs in rare emerging market currencies in the past few weeks, highlighting the demand from investors making plays on exotic currencies. More deals from public sector borrowers are likely, said dealers.

International Finance Corporation has printed a series of medium term notes in rare emerging market currencies in the past weeks and there may be more such MTNs to come from public sector borrowers.