IFC Launches Record Kangaroo Bond for FY 2027

Washington, D.C., July 2, 2026 - The International Finance Corporation (IFC), a member of the World Bank Group, launched its fiscal year 2027 funding program with the issuance of an AUD1.5 billion 5.5-Year benchmark bond.

The transaction is IFC's largest Australian dollar issuance to date, underscoring IFC's long-standing commitment to the Kangaroo market and to maintaining a liquid benchmark curve for investors, while filling the last gap in IFC's well-developed Australian dollar curve.

The fixed-rate note carries a coupon of 4.80% and priced at 36 basis points over the over the Australian government bond due November 2031.

Final orders from over 50 investors exceeded AUD 4 billion, demonstrating robust and diverse investor appetite for high-quality SSA issuance in the Australian dollar market.

The transaction attracted strong demand from a high-quality and geographically diversified investor base, including bank treasuries, central banks, and official institutions. Asia accounted for 43% of allocations, followed by Europe, Middle East and Africa (EMEA) (33%), and Australia and New Zealand (24%).

"This transaction demonstrates the depth of investor demand for IFC and our commitment to maintaining a liquid benchmark curve across key funding markets," said Jorge Familiar, Vice President and Treasurer, World Bank Group. "IFC's largest Kangaroo bond broadens liquidity, providing efficient funding to support IFC's development mission."

The issuance marks IFC's first benchmark bond of the fiscal year and its first new AUD line since February 2025, when IFC issued an AUD 1.2 billion 5.25-year Kangaroo social bond. IFC remains a regular issuer in the Australian dollar market, where its domestic bonds are repo-eligible with the Reserve Bank of Australia.

The transaction was arranged by Commonwealth Bank of Australia, Daiwa Capital Markets Europe, J.P. Morgan, and TD Securities.

"Congratulations to the IFC team for an outstanding result on their return to the AUD Kangaroo market and first benchmark since Feb 2025. This new AUD 1.5 billion 5.5-year Bond transaction sets a new milestone as the largest single issuance volume for a new IFC line in the Kangaroo market. This transaction also set new historical records for both orderbook size and total number of investors in an AUD transaction for IFC. This phenomenal outcome is testament to the name quality that investors associate with the IFC name, and the ongoing investor work carried out by the team over many years. It was a pleasure for the CBA team to work with the IFC team on their return to the Kangaroo market." - Peter Seung, Head of DCM & Syndicate, Asia, Commonwealth Bank of Australia

"We congratulate the IFC team on its highly successful AUD 5.5-year benchmark. The final size of AUD 1.5bn represents IFC's biggest Kangaroo primary transaction to date, demonstrating IFC's strong ability to access liquidity in the AUD market. The deal was supported by a remarkably diversified book that serves as a testament to the exceptional investor relations work IFC does globally. Daiwa is delighted to have been part of this landmark transaction." - Manshun Chan, Head of AUD Syndicate, Daiwa Capital Markets

"Launching the new fiscal year with IFC's largest-ever AUD transaction is an impressive achievement and a testament to the market's confidence in IFC's credit and purpose. J.P. Morgan is proud to have partnered with IFC to bring this milestone A$1.5bn issue to market." - Tim Pinchen, Executive Director, AUD Syndicate, J.P. Morgan

"TD are delighted to have acted as a joint lead manager on IFC's return to the benchmark AUD market. The response following a 16-month absence is a testament to IFC's appeal to Australian dollar investors both domestically and abroad. The transaction marks IFC's largest ever benchmark transaction at AUD1.5bn on their largest ever order book at AUD4.1bn. A huge congratulations to the IFC team on such a successful outing in the AUD market." - Matt Jaconelli, Director, TD Securities

IFC Kangaroo Bond Terms

Distribution Statistics

Type

Bank Treasuries: 39%

Central Banks/Official Institutions: 31%

Asset Managers/Insurers: 30%

Geography

Asia: 43%

EMEA: 33%

Australia/New Zealand: 24%

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