IFC

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.

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.