• Hamkorbank may beat Uzbek sov to debut

    The world’s first bond denominated in Uzbekistani soum was listed on the London Stock Exchange on Wednesday morning. The bond, issued by the International Finance Corporation, is expected to be the first step in the country’s growing ambitions for a capital markets presence.

    • 20 Jun 2018
  • Supras to step up local currency activity

    Supranationals expect to increase the local currency portion of their funding activities over the next few years, thanks to tightening financial conditions in dollars.

    • 19 Jun 2018
  • Garanti Bank prints gender bond MTN

    Turkey’s Garanti bank has sold its first ever social bond, a $75m private placement. The International Finance Corporation purchased the bond as part of its Banking on Women Programme.

    • 14 Jun 2018
  • Garanti Bank prints gender bond MTN

    Turkey’s Garanti bank has sold its first ever social bond, issuing a $75m private placement. The bond was purchased by the International Finance Corporation as part of its Banking on Women Programme.

    • 13 Jun 2018
  • Thailand’s TMB Bank sells $60m green bond to IFC

    TMB Bank, with support from the International Finance Corp (IFC), sold the first green bond from a Thai commercial bank on Tuesday, raising $60m.

    • 07 Jun 2018
  • MTN issuers yet to adjust to Italy

    MTN borrowers have not yet altered their issuance levels to take account of the violent moves in curves, led by Italy, over the past two weeks — leaving the euro market all but deserted.

    • 31 May 2018
  • Funding scorecard: supranationals

    This week's funding scorecard looks at the progress various supranationals have made in their funding programmes.

    • 18 May 2018
  • SSA Uridashi pullback opens opportunities for some

    Some SSA issuers are avoiding Uridashi notes, but dealers say there is no shortage of demand.

    • 17 May 2018
  • Canvest attracts five banks to $150m borrowing

    Canvest Environmental Protection Group Company’s Hong Kong dollar denominated $150m-equivalent loan has attracted five participants.

    • 16 May 2018
  • A decade on, IFC still facing Panda accounting roadblock

    After opening the Panda bond market in the mid-2000s, International Financial Corporation (IFC) has been absent from the asset class for over a decade. But Jingdong Hua, treasurer at IFC, told GlobalRMB that this could change — if China lets the issuer use its own accounting standard again.

    • 07 May 2018
  • Investors resistant to supra green price ambitions

    Some supranationals want to see their efforts to print green bonds rewarded with tighter pricing, hoping to set a precedent that will spread through the market. But some worry that setting the pricing bar higher for green bonds than vanilla as a matter of course could deter investors. Lewis McLellan reports.

    • 26 Apr 2018
  • Canvest Environmental eyes $150m loan through IFC

    Hong Kong-listed Canvest Environmental Protection Group Company, a waste-to-energy provider, is seeking a $150m-equivalent borrowing denominated in Hong Kong dollars.

    • 20 Apr 2018
  • Supras turn to niche MTNs for green funds

    Two supranational borrowers used niche currency private placements this week to raise cash for their green projects.

    • 28 Mar 2018
  • Fransabank to issue Lebanon’s first green bond

    Lebanese lender Fransabank is making its debut green bond offering with a trade anchored and supported by the International Financing Corp. The deal marks the second such bond from the MENA region, and a third is on the way as international financing institutions (IFIs) and local banks look to the capital markets to fund the region’s energy needs.

    • 01 Mar 2018
  • Funding scorecard: supranationals

    This week's scorecard reveals how far progressed supranationals are in their 2018 funding plans as we hit the middle of February.

    • 16 Feb 2018
  • China Houze sets out for $60m loan with IFC umbrella

    China Houze Group, a non-bank financial company, has embarked on its maiden offshore loan syndication with the help of International Finance Corp.

    • 23 Jan 2018
  • Threes ‘good company’ in dollars

    The three year part of the dollar curve took centre stage for public sector issuers this week, having played second fiddle to fives so far this year. Issuers were met with just as strong a reception in the short end of the curve as they have enjoyed in fives so far — and SSA bankers believe some could be tempted to test the longer end.

    • 18 Jan 2018
  • IFC shows dollar threes ‘just as strong’ as rampant fives

    The International Finance Corporation on Thursday offered a solid helping of three year supply to a dollar market that has so far this year been dominated by five year issuance. The issuer was rewarded with a well oversubscribed book, with bankers away from the deal suggesting central banks would have played a large part.

    • 18 Jan 2018
  • Mexican peso market 'hotter than ever'

    SSA issuers are able to offer a pickup against Mexican government bonds for the first time "in memory", according to one head of local currency bonds.

    • 16 Jan 2018
  • IFC, GS support Vietnam's SMEs with loan

    International Finance Corp has joined forces with Goldman Sachs to extend a $110m syndicated loan to Vietnam’s An Binh Commercial Joint Stock Bank, a portion of which will be used to provide loans to women-owned enterprises in the country.

    • 21 Dec 2017
  • Asian green bonds: more catching up needed

    Asia’s green financing market has made great strides since issuance started to pick up two years ago, with 2017 seeing more regulators and issuers giving the asset class a push. But for all its impressive feats, the region’s green market is yet to come of age.

    • 12 Dec 2017
  • IFC sells first ever dinar bond in local currency push

    The International Finance Corporation has placed its first ever Serbian dinar bond, with the intention of financing a particular project in the region.

    • 07 Dec 2017

IFC data breakdown

Sources: IFC, Dealogic

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

IFC

Dealer League Table IFC

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 1,710.90 47 33.93%
2 Citi 1,076.13 11 21.34%
3 TD Securities Inc 618.80 3 12.27%
4 Bank of America Merrill Lynch 498.53 1 9.89%
5 HSBC 208.60 6 4.14%

Key
officials

Ben Powell, head of funding

Marcin Bill, financial officer

Flora Chao, senior financial officer

Elena Panomarenko, senior financial officer

Yuri Kuroki, associate financial officer

Zauresh Kezheneva, financial 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 Barclays 12,417.34 15 11.10%
2 JPMorgan 10,784.81 16 9.64%
3 Citi 9,836.54 17 8.80%
4 NatWest Markets 8,487.83 7 7.59%
5 HSBC 7,788.95 12 6.97%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 28,901.35 74 12.48%
2 HSBC 22,334.06 48 9.64%
3 JPMorgan 19,145.59 51 8.27%
4 Deutsche Bank 17,915.81 27 7.74%
5 Bank of America Merrill Lynch 16,436.98 51 7.10%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 24,223.40 52 8.61%
2 Barclays 21,482.86 36 7.64%
3 UniCredit 19,921.86 49 7.08%
4 Credit Agricole CIB 18,862.23 49 6.71%
5 HSBC 18,112.51 64 6.44%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 51,595.93 277 7.25%
2 Citi 50,929.52 181 7.15%
3 HSBC 46,450.64 170 6.52%
4 Barclays 40,928.81 133 5.75%
5 Deutsche Bank 37,881.53 100 5.32%