Browsing: International Finance Corporation (IFC)

IFC launched US$2 Billion Global Bond to support private investment in developing countries www.theexchange.africa

IFC US$2 billion global bond for private investment in developing countries

Investing

The new three-year benchmark is priced with a spread of SOFR MS+25 basis points, equivalent to +12.5 basis points over the three-year US Treasury note.

The new standard pays a semi-annual coupon of 3.625 per cent. Morgan Stanley, Citi, Wells Fargo Securities, and TD Securities served as the joint lead managers for this transaction.

IFC achieves another outstanding result in the capital markets! Utilising the robust USD SSA primary market following the summer, the new three-year benchmark was oversubscribed by more than 2.4 times, with both a highly diversified and high-quality final order book.

IFC has succeeded in ensuring that its global annual outing encapsulates the broadest possible investor attention through coherent excellence in execution.

Equity: Fossil fuel funding dries up as IFC buys bank’s stake

Banking

The new anti-coal policy that Equity has implemented comes at a time when the nation is getting ready to begin mining the commodity after significant quantities were discovered in Kitui County’s Mui Basin.

“Through with this equity investment, Equity Group undertakes to refrain from providing any financing for coal-related endeavours, including the construction or expansion of coal-fired power stations and coal mines., and transportation assets used exclusively for coal,” IFC and Equity said in a joint statement. “This equity investment” refers to the equity investment made by Equity Group.

Any utility firm that derives more than 20 per cent of its energy or revenues from coal by producing 10 million tonnes or more of coal or has an installed coal-fired capacity of 5,000 megawatts or more will not be eligible for financing from this bank. One of the most important companies that rely on coal as a source of manufacturing fuel is Bamburi Cement.