IFC

A shift by agencies towards symmetrical, two-way credit support annexes (CSAs) could well be the best present SSA bankers receive this Christmas. Even supranationals are starting to move towards equal swap agreements.

This week's funding scorecard contains updates on some of the major supranational borrowers' funding programmes. Both the IFC and the World Bank have raised nearly two-thirds of their targets as the first half of their funding year comes to a close.

The International Finance Corporation is set to sell the first trade from a $1bn Indian rupee linked bond programme on Monday afternoon. Books had swelled to over four times the minimum size targeted by the supranational as SSA Markets went to press.

Land NRW was the only issuer out with a benchmark mandate on Monday afternoon as SSA Markets went to press, but a few more issuers are waiting in the wings to pull the trigger before new issue markets begin to shut down ahead of year end.

The International Finance Corporation increased a June 2018 Australian dollar line on Tuesday after several SSA borrowers tapped the Kangaroo market earlier this week. Bankers expect a decent flow of issuance until the end of year.

The African Development Bank, Bank Nederlandse Gemeenten and the International Finance Corporation hopped into the Kangaroo market on Monday to take advantage of an improved basis swap from Australian dollars to dollars.

This week's funding scorecard contains updates on some of the major supranational borrowers' funding programmes. Next Friday the scorecard will focus on a number of Europe's supranationals and agencies.

IFC is set to sell its second ever dollar benchmark on Tuesday afternoon, with pricing on a three year bond set at the tight end of guidance.

The International Finance Corporation could be set to blaze a trail for other issuers when its new Banking on Women Bond launches next month, MTN bankers said on Thursday.

The International Finance Corporation sold a tap of 10 year Australian dollar debt on Wednesday, playing on strong demand for long-dated Kangaroo deals from Japanese life insurers. Most deals in the maturity have come from European issuers but investors are keen to grab opportunities to diversify their holdings.

The International Finance Corporation hopes to renew its commitment to socially responsible investors before the end of the year by selling a new Green Bond in benchmark size. The issuer is also looking at the possibility of selling euro denominated debt, potentially through a debut Schuldschein deal.

This week's funding scorecard contains updates on some of the major supranational borrowers' funding programmes. Next Friday the scorecard will feature selected European supranationals and agencies.