In FY22 raised $9.1 billion from 158 trades across 27 currencies. IFC remained resilient and led the public markets through a tumultuous pandemic recovery process, while continuing to accommodate reverse inquiries across currencies. Borrowings in currencies such as US dollar (USD), Australian dollar (AUD), New Zealand dollar (NZD), Canadian dollar (CAD), and British pound sterling (GBP) accounted for 79% of the funding program in FY22.
In the 1st quarter of FY22, IFC moved quickly to capitalize on the strong tone in primary markets with the issuance of a fixed-rate five-year USD 2 billion global benchmark bond priced with a spread of +21 bps to SOFR due September 2026.
In January 2022, IFC entered the Maple market for the first time in FY22 with a 5-year CAD 500 million benchmark social bond. In total IFC issued 10 social bonds raising over USD 1.1 billion.
In the sterling market, IFC tapped its March 2025 line seven times and its September 2027 line one time.
IFC was a frequent issuer in the Kangaroo market, with 23 trades and issuing AUD 2.25 billion.
Japan continues to be an important market for IFC, generating up to 10 percent of IFC’s total funding on average. In FY22, IFC sourced USD 590 million (amounting to 6.5 percent of the FY22 funding) from the Japanese market through private placements, public trades and Uridashi.
IFC continues to actively respond to demands for social bonds and collaborates with Japanese investors to offer tailormade transactions with exposure to impact investment products. In FY22, Mizuho International and Daiwa Securities invested in our US dollar and Japanese yen social bonds. IFC issued 24 Uridashi bonds which targeted Japanese retail investors, for a total of 150 million.
As of June 30th, 2022, IFC has issued $4.9 billion in volume across 73 social bonds and $10.5 billion in volume across 178 green bonds.
IFC issued over USD $7.5 billion under its Global Discount Note Program, which offers notes with maturities up to 360 days.
Read more FY22 Treasury highlights in IFC’s annual newsletter for bond investors here.