Tuesday, 7 April 2009

New Issuance -- IFC Might Sell Dollar Bonds in International Markets

The International Finance Corporation, the investment-banking-like arm of the World Bank, mandated BNP Paribas SA, HSBC Holdings Plc. and JPMorgan Chase & Co. for a five-year dollar-denominated Global benchmark issue, according to people involved in the transaction. The sale might take place in ''the near future, subject to market conditions.´´ This might happen as expectations that the bear market rally we have witnessed in previous days (stocks are falling for the first time in several days today) is likely to stay for a bit longer. I have my doubts about it. In the meantime, companies are looking for windows of opportunity to sell debt or arrange new financing schemes -- and for the IFC this is probably be a good time to place a benchmark size issue in the markets at a competitive yield.

The IFC is rated Aaa by Moody's Investors Services and AAA by Standard and Poor's.

2 comments:

  1. let me Know when the CDS starts trading!

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