IFC’s largest sterling bond raises £500m

The International Finance Corporation has issued a seven-year sterling benchmark bond, raising £500 million to stimulate private sector development, help create jobs, advance climate-smart solutions, and create opportunities for women entrepreneurs in developing countries.

It represents IFC's first sterling-denominated bond since issuing its inaugural green bond raising £350 million in July, and is the lender's largest sterling bond issuance.

The bond was heavily oversubscribed, with banks comprising 73% of investors, asset managers 10%, and central banks and official institutions 17%.