IFC

This week's funding scorecard focuses on some of the major supranational borrowers, some of which have just announced new funding programmes. Next Friday's scorecard will give take a look at the funding progress of a number of European supranationals and agencies.

The International Finance Corporation (IFC) is preparing to meet investors on a roadshow in Zambia, ahead of selling bonds on the local market. A deal would mark the first time an international borrower has printed in Zambia's domestic market.

A bevy of issuers are exploring the possibility of launching debut socially responsible investment (SRI) bonds, SSA Markets understands. The success of new issues, however, will be down to how open they are about the use of the proceeds of each issue. SSA Markets speaks to Stephen M. Liberatore at US pension fund, TIAA-CREF about the growth potential of this market.

This week's funding scorecard focuses on some of the major supranational borrowers. Next week's scorecard will give an update on the funding progress of a number of CEE sovereigns.

Beginning today with a round up of some of the biggest supranational issuers, SSA Markets will publish each Friday an update on how much funding SSA issuers have raised and how much they have left to find. Click on the borrower's name or it's logo to see more data.

The World Bank attracted an extra Rmb300m on June 6 when it reopened books on its recently priced offshore renminbi bond in response to strong reverse enquiry from investors.

The International Finance Corporation sold its first Kangaroo bond of the year on Wednesday, seizing on an attractive basis swap in the five year portion of the curve to sell a A$400m bond ($385.8m). The States of Victoria and Western Australia both also sold Australian dollar debt on Wednesday.

The International Finance Corporation (IFC) and Victoria Treasury Corporation (VTC) are expected to price their first new Australian dollar lines of the year on Wednesday. The IFC is looking to sell a five year Kangaroo issue and Victoria short 20 year debt.

The International Finance Corporation could be back with another green benchmark as soon as July, SSA Markets understands.

The African Development Bank (AfDB) hopes to sell its first global green bond this year, SSA Markets can reveal. The supranational has been working on the issue internally since last year.

The International Finance Corporation (IFC) will price a $2bn June 2018 bond later on Wednesday afternoon at mid-swaps less 3bp, which will be the tightest supranational five year deal so far this year. It is also flat to the IFC’s outstanding 2017s and 3bp inside the trading level of the outstanding Inter-American Development Bank (IADB) five year.

The lack of yield on offer in dollars and euros is encouraging investors to look towards niche and local currencies in an effort to maximise the return on their investment. With the EBRD selling its first ever Vietnamese dong bond this week, niche currency bankers are confident in the outlook for emerging market currencies.