Press Releases

IFC Global Bond Brings FY12 Fundraising for Private Sector Development to $10 Billion

In Washington, D.C.:
Alexandra Klopfer
Phone: (202) 473-4645

Washington, D.C., April 17, 2012—IFC, a member of the World Bank Group, today announced the launch and pricing of a $2 billion, five-year global bond issue. The issue, which is part of IFC’s regular program of raising funds for private sector development lending, helps IFC meet its fundraising goals for fiscal 2012.

Consistent with IFC’s practice, the proceeds of this issue will be swapped into floating-rate U.S.-dollar funds that will be available for IFC investments in emerging markets.

During the course of FY 2012, IFC has raised $10 billion across a range of markets and currencies. U.S.-dollar borrowings make up for about 70 percent of IFCs’ funding program. Other funding sources include the Australian-dollar Kangaroo market, which represents close to 20 percent of the funding program; the U.S. domestic market; and the Japanese retail market. So far, IFC has issued bonds in 10 different currencies this fiscal year.

“Our global bond issuance program provides a strong foundation for funding loans to IFC clients while establishing IFC as one of the premier issuers in the international capital markets,” said Jingdong Hua, IFC Vice President and Treasurer. “Raising funds in the U.S.-dollar market is therefore an integral part of our strategy to support the development of the private sector—a key engine of job creation and growth, in emerging markets and globally.”

“We are particularly pleased with the balanced distribution of the issue, reflecting the strong following that IFC has developed with investors globally, and especially with central banks and other official institutions,” said John Borthwick, IFC Director of Treasury Market Operations.  

IFC is the global leader among multilaterals in private sector development finance, accounting for about 30 percent of the financing committed by international financial institutions. IFC’s global bond issues provide a benchmark for IFC’s other borrowing, and for the structured products it arranges for its clients. For the past two years, IFC has issued two global bond issues within each calendar year.

The transaction was lead managed by Deutsche Bank, JP Morgan, and Nomura International.

IFC Global Bond Summary Terms and Conditions
Issue amount $2 billion
Pricing date April 17, 2012
Payment date April 24, 2012
Maturity date April 24, 2017
Re-offer price 99.893%
Re-offer yield 1.022%
Semi-annual coupon 1.000%
Re-offer spread UST due March 2016 plus 16.3 bps
Format Global
Listing Luxembourg

IFC Global Bond Distribution of Orders
By Geographic Region         By Investor Type
Asia                 34%                 Central Banks/Official Institutions         86%
EMENA         34%                 Banks and Corporates                        8%

Americas        33%                Fund Managers                                6%

About IFC
IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit

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