IFC launches inaugural Kangaroo social bond

International Finance Corporation (IFC) (AAA/Aaa) launched a minimum A$300 million (US$232.8 million) five-year Kangaroo social bond on 5 March. The forthcoming transaction has indicative price guidance of 30 basis points area over semi-quarterly swap and 33.75 basis points area over Australian Commonwealth government bond. The deal is IFC’s first social bond in Australian dollars and is expected to price on or before 6 March.