International Finance Corporation
Pent-up demand led International Finance Corporation (IFC) to bring its first Kauri deal in more than a year on 28 August. According to deal sources, offshore investors have been less prevalent in Kauri deals during 2018, including in IFC’s transaction. However, issuer and intermediaries suggest the extent of domestic demand is sufficient to support further deal flow.
As high-grade bonds have rallied globally in response to the COVID-19 crisis, opportunities have emerged in the short end of the Australian dollar basis swap curve.