IFC

The International Finance Corporation made a quick start to its funding year on Wednesday, tapping the dollar market for a five year benchmark just a day after beginning its new funding programme.

International Finance Corporation has wasted no time in kicking off its 2014-2015 funding programme. It mandated banks to run a long five year global syndication on Tuesday afternoon — the first day of its new fiscal year.

This week's scorecard features the funding programmes of some of the major supranational borrowers, as the International Finance Corporation and World Bank complete their funding programmes and begin prefunding for the next fiscal year.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

The International Finance Corporation is planning to sell further green bonds in the offshore renminbi market after selling the first such trade from any issuer on Tuesday. The IFC has already completed its funding programme for this fiscal year, but renminbi paper — along with an arsenal of other options — is on the cards when the new fiscal year begins on July 1.

International Finance Corporation became the first issuer of any kind to sell green debt in the offshore RMB market on Tuesday, when it priced a three year bond through HSBC. More supply could soon follow as other borrowers are already in discussions about printing in the format, SSA Markets understands.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

Bank Nederlandse Gemeenten and the International Finance Corporation added their names to the burst of dollar issuers to have hit the market over the past few weeks on Tuesday, printing tightly priced deals in the belly of the curve.

Bank Nederlandse Gemeenten and the International Finance Corporation hired for dollar benchmarks on Monday afternoon — the Dutch agency is sounding investors for a five year while the Washington supranational is looking to pick up tightly priced four year paper.

This week's scorecard focuses on the funding programmes of some of the major supranational borrowers. World Bank is coming to the conclusion of its funding year, but more deals are possible from the supra.

The International Finance Corporation is hoping that its sale of the first local currency bond in the Rwandan market last week will encourage growth in the country’s capital markets. Coupled with greater attention to the capital markets by Rwanda’s government, the supranational expects Rwandan companies to begin issuing bonds in the near future.

This week's scorecard focuses on the funding programmes of some of the major supranational borrowers, with the IADB's $2bn benchmark on Wednesday helping it near the halfway mark for the year.