IFC Returns to Sterling FRN Market with GBP 500 Million Bond
United Kingdom, Sept. 21 -- International Finance Corporation (IFC, rated Aaa/AAA), a member of the World Bank Group, today priced a long 5-year British pound sterling (GBP) Floating Rate Note ("FRN"). The GBP 500 million transaction marked IFC's first SONIA-linked FRN since 2019.The transaction highlights the solid demand for SONIA-linked assets and priced at SONIA +30 basis points. The transaction generated strong investor interest, including among bank treasuries, asset managers, and central banks.The transaction was jointly led by Bank of America Merrill Lynch, Bank of Montreal, HSBC, and RBC. The bond will be listed on the London Stock Exchange.Investor Distribution by TypeBanks / Bank Treasuries: 77%Asset Managers / Insurance / Pensio...
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