IFC

The International Finance Corporation and Goldman Sachs have launched a $600m debt facility to back small and medium businesses owned by women in developing countries. The facility’s launch comes months after IFC priced a debut Women in Business bond.

The International Finance Corporation sold its first London listed renminbi deal on Monday, a heavily oversubscribed three year deal. A wide range of investors participated in the deal despite tight pricing and the promise of hefty cuts on allocations.

The International Finance Corporation received strong demand for its first London listed renminbi bond on Monday. Oversubscribed books allowed the leads to set pricing comfortably inside of guidance on Monday afternoon.

When the International Finance Corporation picked London for a benchmark Renminbi bond bankers hailed it as a statement of intent that could turbocharge the product by bringing it to a wider range of investors — whether that is the case or not only time can tell.

The IFC mandated banks on Wednesday for its first syndicated renminbi bond in seven years — and its largest since 2005. The deal will also be the largest dim sum bond from an SSA issuer to be listed on the London Stock Exchange.

This week's scorecard focuses on the funding programmes of some of the major supranational borrowers. Next week's scorecard will feature European agencies.

If 2013 was the year when Socially Responsible Investments burst into the mainstream, then 2014 should be the year where issuers and bookrunners start pushing these instruments towards the same level of maturity seen in other sectors.

The first funding scorecard of 2014 takes a look at the funding programmes of some of the major supranational borrowers. Next week's scorecard will focus on European agencies.

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.