• ADB leaps on Japan Kanga bid with new green deal

    The Asian Development Bank (ADB) hit screens on Monday morning with initial price thoughts for a new 10 year green Kangaroo bond. The trade follows a busy week for SSA Kangaroo issuance at the long end of the curve, driven by Japanese demand according to one banker.

    • 09 Sep 2019
  • IFC prints Canadian dollar green giant

    The International Finance Corp (IFC) hit screens this week with its first Canadian dollar green bond. The C$750m ($567m) print was the issuer’s largest ever in the currency, as well as the tightest an international SSA issuer has printed against the Canadian Mortgage Bond (CMB) curve, a large and liquid Canadian dollar benchmark.

    • 05 Sep 2019
  • IFC launches Canadian dollar green debut

    The International Finance Corp hit screens on Tuesday afternoon with its first Canadian dollar green bond. The C$750m ($567m) bond is the issuer's largest ever in the currency.

    • 04 Sep 2019
  • KBN debuts Swedish green bond as SSAs move into niche markets

    Kommunalbanken brought its green bond framework to the Swedish krona market for the first time last week to place its seventh green note, its first since August 2018. The move into the currency follows a wider trend of major SSA issuers funding in niche currencies as raising debt in core markets becomes harder, according to bankers.

    • 28 Aug 2019
  • IADB and IFC tap busy Kauri market

    Following last Friday’s Asian Development Bank Kiwi dollar deal, the Inter-American Development Bank and International Finance Corporation both came to the Kauri market on Tuesday to tap a pair of mid-curve notes. With demand for mid-curve Kauri products high, bankers expect more issuers to follow as funding remains attractive for dollar-based borrowers.

    • 20 Aug 2019
  • Supranationals pile into Kauri market

    The Asian Development Bank returned to the Kiwi dollar market to print its largest Kauri deal since January 2018 this week. With the Inter-American Development Bank and International Finance Corporation set to follow with a pair of taps in the coming days, bankers are expecting a busy few weeks in the market as investors react to the recent surprise interest rate cut from the Reserve Bank of New Zealand.

    • 19 Aug 2019
  • Scandi taps flow after summer break

    Volumes are growing across the spectrum in the Scandinavian MTN markets, as issuers and bankers return from their summer holidays. Meanwhile, bankers are expecting Scandinavian investors to move further out along the credit curve in response to negative yields as dovish Nordic central bank tones could lead to a bullish Scandinavian market.

    • 13 Aug 2019
  • Funding scorecard: supranationals

    This week’s funding scorecard looks at the progress supranationals have made in their funding programmes towards the end of July

    • 26 Jul 2019
  • Kanga market starts to heat up

    As core markets in the northern hemisphere begin to cool, SSA issuers are looking towards an Australian dollar sector unaffected by the summer close.

    • 25 Jul 2019
  • IFC adds social bonds to Impact Note programme

    The International Finance Corporation is adding social bonds to its Impact Note programme, the supranational’s US retail bond channel that it launched in 2014.

    • 23 Jul 2019
  • SSAs pile into Kauri and Kangaroo peripheries

    As core markets in the northern hemisphere begin to cool, SSA issuers are looking towards a Kiwi and Aussie periphery unaffected by the summer close.

    • 22 Jul 2019
  • IFC kicks off funding year with green taps

    The International Finance Corp (IFC) started its 2019/20 funding year on Tuesday with a pair of Swedish krona green bond taps in the private market.

    • 11 Jul 2019
  • BNG goes long and low

    Bank Nederlandse Gemeenten printed ultra long paper this week, locking in low yields for the issuer but leaving buyers exposed to big price moves on any rate rise.

    • 04 Jul 2019
  • IFC sets out funding wall for 2019/20

    International Finance Corp has a funding capacity of up to $14bn for its upcoming financial year, which starts on July 1.

    • 20 Jun 2019
  • Funding scorecard: supranationals

    This week’s funding scorecard looks at the progress supranationals have made in their funding programmes as we hit the middle of June.

    • 14 Jun 2019
  • Record rate cut signal buoys Kanga bankers

    Kanagaroo bond market participants welcomed the prospect of ever lower rates in Australian dollars as four SSA borrowers priced taps over Tuesday and Wednesday.

    • 22 May 2019
  • FMO prints rare Honduran lempira linker

    The Netherlands Development Finance Company (FMO) on Wednesday printed a rare Honduran lempira linked-note. Meanwhile, the International Finance Corporation (IFC) has made its Cambodian riel debut.

    • 16 May 2019
  • IFC prints inaugural Cambodian riel-linked note

    The International Finance Corporation printed the first offshore Cambodian riel-linked note last week. The bond’s proceeds will go towards the creation of a local capital market in Cambodia and the expansion of local currency lending in the country.

    • 13 May 2019
  • IFC’s deputy treasurer to join AIIB

    Andrew Cross, deputy treasurer of the International Finance Corp, is set to join the Asian Infrastructure Investment Bank, GlobalCapital understands.

    • 30 Apr 2019
  • SSA kangaroos jump to the long end

    A series of modest taps at the long end of the Australian dollar curve at the end of last week suggests that what has been a quiet market for Kangaroo bonds could soon spark into life, according to SSA funding officials.

    • 28 Mar 2019
  • IFC to focus on MTNs in Q2

    As the first quarter of 2019 comes to a close, the International Finance Corporation is taking stock, to inspect its funding needs. It is well-funded, and looking to only print on the private market to meet its targets.

    • 28 Mar 2019
  • Japanese bid drives supra Kanga taps

    Both Kommunalbanken (KBN) and the International Finance Corporation (IFC) came to the Kangaroo market this week. A need for long dated Australian dollar paper from Japanese investors drove the deals.

    • 13 Mar 2019

IFC data breakdown

Sources: IFC, Dealogic

Credit rating Aaa/AAA
Basel II risk weighting
0%
Headquarters
2121 Pennsylvania Avenue, NW,
Washington, DC 20433 USA

 

See Funding scorecard: supranationals for IFC's funding progress this year.

 

 

IFC



 

Dealer League Table IFC

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 782.54 33 18.29%
2 TD Securities Inc 555.17 14 12.97%
3 Nomura 521.87 15 12.20%
4 ANZ 404.13 2 9.44%
5 Citi 294.34 5 6.88%

Key
officials

Flora Chao, global head of funding

Marcin Bill, senior financial officer

Elena Panomarenko, senior financial officer

Maki Yasui, senior financial officer

Yuri Kuroki, associate financial officer

Hiroyasu Hirano, associate financial officer

Zauresh Kezheneva, financial analyst

Esohe Denise Odaro, investor relations officer

Sophie Peeters, investor relations analyst

Overview
commentary
The International Finance Corporation (IFC) is a member of the World Bank group. It provides
investment and advisory services to build the private sector in developing countries. The IFC was
established in 1956 and ended that year with 56 member countries. Membership has increased
gradually, standing at 184 at the end of 2011-2012 financial year.

The member countries provide IFC’s authorised share capital of $2.58bn, 51% of the capital are held by G7 countries, collectively determine its policies, and approve investments.
Guarantee All of IFC's notes constitute direct, unconditional, general and unsecured obligations of the corporation. The notes are not obligations of the IBRD or of any of its shareholders and IFC's notes are not fully or partially guaranteed by the World Bank or any of its shareholders.
Ownership
structure
IFC has 184 Member Countries and 51% of the capital is held by G7 countries. IFC has strong shareholder support and is the only supranational with fully paid-in capital, exclusively in US dollars.
Private
placement
policy
IFC aims to maintain its position as an active and flexible issuer of plain vanilla and structured notes and works on reverse enquiry basis offering extensive products including interest rate linked, FX linked, index linked, equity linked, FRNs, emerging market currencies/linkers, Bermudan and European callables. Minimum size $3 million equivalent; maturities ranging from 1 to 30 years.

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,683.39 29 10.65%
2 Citi 13,595.38 21 8.19%
3 Goldman Sachs 12,302.04 22 7.41%
4 HSBC 12,224.45 15 7.36%
5 BNP Paribas 11,306.61 19 6.81%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 30,540.14 76 11.44%
2 JPMorgan 29,467.48 78 11.03%
3 HSBC 18,945.39 48 7.09%
4 Barclays 17,883.71 42 6.70%
5 Bank of America Merrill Lynch 16,273.57 62 6.09%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,538.44 83 9.26%
2 BNP Paribas 25,289.20 63 6.59%
3 Credit Agricole CIB 25,128.79 67 6.55%
4 Goldman Sachs 24,003.84 53 6.26%
5 UniCredit 23,929.00 71 6.24%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 74,506.93 362 7.86%
2 Citi 58,306.28 185 6.15%
3 HSBC 55,518.86 225 5.85%
4 Barclays 49,814.97 174 5.25%
5 Bank of America Merrill Lynch 42,458.79 153 4.48%