Funding Operations
January 2012
An Introduction to International Finance Corporation
 Member of the World Bank Group. Founded in 1956 with the primary purpose of
providing debt and equity funding for project finance in developing countries.
 Only Supranational institution with fully paid in capital. Capital and reserves take
up approximately 1/3 of the total balance sheet.
 Strong capital position and support from its 183 member countries. 51% of capital
is held by G7 countries and c. 70% of capital is held by AAA/AA rated sovereigns.
 Consistent stable Triple A ratings from Moody’s & S&P since ratings commenced.
0% risk-weighted under the BIS2 guideline.
 Track-record of stable profitability. No net operating losses ever recorded by IFC.
 IFC 2011/12 fiscal year funding program1 amounts to USD10bn.
1. IFC’s 2012 fiscal year runs from 1 July 2011 to 30 June 2012
2. As per Basle II
2
Vision
 “People should have the opportunity to escape poverty and improve their lives.”
Mission Statement
 “To fight poverty with passion and professionalism for lasting results. To help
people help themselves and their environment by providing resources, sharing
knowledge, building capacity, and forging partnerships in the public and private
sectors.”
3
IFC, founded in 1956, is the main driver of private sector
development in the World Bank Group
IBRD
IDA
IFC
MIGA
ICSID
 Promote and support economic growth by catalyzing private sector investment in developing
countries
 Legally distinct part of the World Bank Group with a shared Board of Directors and President,
but separate development mandate, Articles of Agreement, staff, capital base,
operating/financial policies
 Only global multilateral source of debt and equity financing for private enterprise in developing
countries
 Over 102 offices worldwide in 92 countries with 55% of IFC’s 3,438 staff in field offices.
4
IFC’s Business
IFC’s business consists of three complementary ‘pillars’ that support its mandate and strategic priorities.
Investment
Services
Advisory
Services
Asset
Management¹
•
Loans for IFC Account
•
Access to finance
•
•
Equity and quasi-equity finance
•
•
Syndicated loans
Environmental and social
sustainability
Invests third-party capital in a
private equity format
•
•
Structured and securitized
products
Allows outside investors to
benefit from IFC’s expertise in
achieving strong equity returns
as well as development impact
•
Helps IFC fulfill its role and
leverage its balance sheet by
mobilizing third-party capital to
increase investments
•
Client Risk management
products
•
Trade finance
•
Subnational finance
•
Local Currency
•
Investment climate
•
Public – private partnerships

Infrastructure advice
1. Wholly owned subsidiary of IFC
5
Sustainability is Central to the IFC mission
72 leading financial
institutions from 30
countries have adopted the
Equator Principles as of
June 2011, accounting for
nearly 95 percent of
project finance
transactions worldwide.
 Pioneer of socially and environmentally responsible
investments
 Strong environmental and social due diligence
 IFC’s Equator Principles have become widely adopted by
financial institutions
 A benchmark for the financial industry to assess and manage social
and environmental risk in project financing
 IFC co-sponsors Sustainable Banking Awards with the
Financial Times
 An award for banking innovators whose business practices reflect a
commitment to values and practices consistent with sustainability
Summary of Terms:
Amount - USD 200,000,000
Maturity - April 28, 2014
Coupon - 2.25% p.a.
Denomination- USD 5,000
 IFC through its “Green Bonds” offers investment opportunities to
sustainable and socially responsible investors who wish to support
climate change-related projects in developing countries
 Proceeds from the “Green Bonds” are set aside in a separate
“green account” for investing exclusively in renewable energy,
energy efficient, and other climate-friendly projects in
developing countries
 Inaugural USD200m due April 2014 “Green Bond” issued in April
2010
6
Consistently rated Triple-A & Risk Weight of Zero Percent
Major Rating Factors
Long-term ratings
Outlook
• Member of the World Bank Group
• Sovereign Sponsorship
(Fully Paid
in Capital)
MOODY’S
S&P
Aaa (June 2010)
AAA (January 2011)
Stable
Stable
• Strong financial profile including
substantial capital and liquidity
• Conservative statutory and
management policies
 As a multilateral development bank, IFC has a 0% risk weight under Basel II
“In addition to its reserves for losses, IFC’s risk-bearing capacity is buttressed by its
strong capital position.”
-Standard & Poors, January 2011
7
Strong Shareholder Support
Member Countries Shareholder
Headquartered in Washington D.C.
 Global membership – 183 member countries
 Capital increases¹ – Increase of US$200 million agreed in 2010
 51% of the capital is held by the G7 countries2
 C. 70%3 of capital provided by AAA/AA rated sovereigns
 No dividends paid / no taxes paid
1-3 For additional Information please refer to Appendix (p.30)
8
IFC’s Preferred Creditor Status1
 IFC loans have never been included in a sovereign debt rescheduling, nor have
payments to the IFC ever been permanently interrupted by a general debtservicing moratorium
 Recognized by governments, rating agencies, investors and banks
 Favorable provisioning treatment for IFC syndicated loans
 As IFC remains the lender of record on the borrower’s books, the expectation is
that the borrower will be permitted to purchase the foreign exchange to service
its IFC’s loan (and, consequently, the participations in that loan) during times of
financial stress, when exchange controls may prohibit it from doing so to service
foreign-currency loans from commercial lenders. This expectation is based upon
many years’ experience and was met most recently during the Republic of
Argentina’s financial difficulties during 2001-2002
1. For additional Information please refer to Appendix (p.31)
9
Financial Strength
(As of June 30, 2011)
 Only Supranational with fully paid-in capital, exclusively in US$
 IFC has one of the lowest ratios of debt to paid-in capital plus retained
earnings of any supra national¹
 Low leverage²- Debt: Equity – 2.6x
 Maximum Allowed: 4x
 Capital measures:
 Total Resources Required : US$14.4 bn
 Total Resources Available : US$17.9 bn
 High liquidity (83% of next three years estimated net cash requirements)
 Minimum required: 45%
1. Refer to Credit Rating Agency Supranational report
2. Debt to equity ratio is defined as the ratio of outstanding borrowings plus outstanding guarantees to subscribed capital plus undesignated retained earnings
(less cumulative unrealized gain or losses on loans, equity investments, and other non-trading financial instruments accounted for at fair value in net income)
at the end of the fiscal year.
10
Balance Sheet Overview (As of June 30, 2011)
(In USD billions)
ASSETS
LIABILITIES AND CAPITAL
Liquid Assets (gross)
$31.77 Borrowings
$38.21
Loans and Equity Investments
(net of $1.31 in reserves)
Net Loans: $18.46
Equity Investments: $9.31
Debt Securities: $2.17
Receivables and Other Assets
$29.94 Payables and Other Liabilities
$10.00
Net Worth
Paid in Capital: $2.37
Retained Earnings: $16.37
$6.78
Accumulated Other
Comprehensive Income: $1.54
$68.49 Total Liabilities and Capital
$20.28
Total Assets
$68.49
* The accounting and reporting policies of IFC conform with accounting principles generally accepted in the United States of America (US GAAP)
11
Substantial Liquid Assets
(As of June 30, 2011)
 US$24.5 billion net of derivatives and securities lending activities (equivalent to
36% of total assets)
 High quality investment with mainly
 Sovereign and supra bonds
 Corporate bonds and ABS (Aaa/AAA)
 Financial institution deposits (Aa3/AA- or better)
 Performance measured against market benchmarks within risk parameters
 Three Tiered Investment Approach
 Diversification of investments by sector/asset class, country, investment horizon/trading
style
 Use external managers for a portion
“In our view, the corporation continues to be among the most liquid of MDFIs.”
- Standard & Poor’s, January 2011
12
Net Income
(As of June 30, 2011)
3
2.5
Asian &
Russian
Crisis
Brazil
Crisis
Argentina
Crisis
&
Turkey
Crisis
Argentina
Recovery &
EM Growth
Global
Financial Crisis
2
Net Income
(US$ billions)
1.5
1
0.5
0
-0.5
Net Income (before grants to IDA)
Net Income (after grants to IDA)
 No FY net losses ever recorded by the IFC, prior to grants provided to IDA
1. IDA - International Development Association: On August 7, 2008, IFC’s Board of Directors approved grants to IDA for use by IDA in the form of grants in furtherance of
IFC’s purpose as stated in its Articles of Agreement. For additional Information on IDA please refer to Appendix (p. 31)
13
Risks are Proactively Managed
 Market-based loan pricing
1
 Limit on equity and quasi-equity investments – maximum 100% of net worth
 Loans match-funded to manage currency, interest rate and maturity risks
Top Five Exposures³ by Country
as a % of Total Committed Portfolio (FY11)
Strict Portfolio Diversification Guidelines:
By Company
Investment in a single obligor may not exceed 4%
of Net Worth plus General Reserves on loans
By Risk Sector²
Total exposure to a single risk sector may not
exceed 12% of Net Worth plus General Reserves on
loans
10%
8.8%
8%
6.2%
6%
6%
5.7%
5.6%
Russia
Turkey
China
4%
2%
0%
By Country
Exposure limit is 20% of Net Worth plus General
Reserves on loans
1. See page 33
2. Business sectors that are heavily influenced by a single, identifiable, world price index.
India
Baa3/
BBB-
Brazil
Baa2/
BBB-
Baa1/
BBB
Ba2/
BB
Aa3/
AA-
Five largest country exposure equals 32.3% of
total portfolio.
3. For additional Information please refer to Appendix (p.31)
14
IFC Disbursed Portfolio
(As of June 30, 2011)
Breakdown of IFC Total Investment
(gross of $1.31 bn loan reserves)
35
30
Portfolio
Holdings
(US$ billions)
8%
25
23%
20
15
69%
10
5
0
FY99
FY00
FY01
FY02
Debt Securities
FY03
FY04
FY05
Equity Investments
FY06
FY07
FY08
FY09
FY10
FY11
Loans (net of reserves)
15
Disbursed Portfolio Distribution
(As of June 30, 2011)
 IFC has diversified exposure in 146 countries and 1,737 companies.
Breakdown by Industry
Industrial and
consumer products
4%
Collective
investment
5%
Other
10%
Sub-Saharan
Commercial
banking- General
20%
Africa 10%
World
3%
Middle East and
North Africa 10%
Agriculture and
forestry
3%
Europe and
Central Asia 27%
Other Finance
4%
Information
4%
Chemicals
3%
Housing Finance
3%
Nonmetallic
mineral product
manufacturing
3%
Food and beverages
3%
Transportation and
warehousing Oil, Gas and Mining
5%
6%
Breakdown by Geographical Region
Trade Finance
9%
Microfinance - SME
Finance
6%
Utilities
12%
Asia 26%
Latin America and
Caribbean 24%
“IFC the most geographically diversified DRE portfolio among MDFIs, as of June 30,
2010, in our opinion.”
- Standard & Poor’s, January 2011
16
Conservative Write-off & Provisioning Policy
 Detailed portfolio review on a quarterly basis; any loan 60 days past due classified as
non-accruing¹
 Total Reserves Against Losses equal 6.6% (US$1,307 million) of the total disbursed
loan portfolio
Loan Portfolio Performance – Key Indicators
25
% of
Disbursed
Loan
Portfolio
20
15
10
5
4.7%²
0
FY00
FY01
FY02
FY03
FY04
Non-performing Loans
FY05
FY06
FY07
FY08
FY09
FY10
FY11
Total Reserves Against Losses
1.
The reserve against losses on loans reflects estimates of both identified probable losses on individual loans (specific reserves) and probable losses inherent in the portfolio but
not specifically identifiable (portfolio reserves). IFC considers a loan as impaired when, based on current information and events, it is probable that IFC will be unable to collect
all amounts due according to the loan’s contractual terms.
2.
IFC Management’s Discussion and Analysis, page 20.
17
Funding Objectives
 To meet IFC’s funding needs at favorable cost and maturity, while expanding and
developing its investor base.
Strategy
1. Provide liquid US$ global benchmark bonds annually
 IFC debt instruments are clearable through Fed Wire, DTC, Euroclear and Clearstream
 IFC is exempt from SEC registration and EU prospectus directive
2. Access broad array of public and private bond markets across multiple currencies
(private placements, structured bonds1, callable notes, Medium Term Notes, Kauri,
Kangaroo, Maple, Sterling, Uridashi, Green Bonds, Microfinance Bonds)
3. Promote development of emerging capital markets by issuing bonds in local
currencies, often in domestic markets
1. See page 32
18
Funding Program
IFC Approved Borrowing Program (US$ Billions)
FY12 approved funding program up to US$10 billion
FY11 (US$10.0
bn) Borrowing Currency Mix (13)
Borrowing Program - Currency Mix FY11 Y-T-D
RUB NZD EUR CNY
MXN
GBP 1.3% 0.3% 1.4% 0.2% 0.2%
3.2%
ZAR
4.6%
$12.0
AUD
19.8%
AUD
$10.0
KRW
BRL
4.2%
TRY
USD
JPY
0.3%
GBP
ZAR
MXN
TRY
5.1%
NZD
FY11
FY12
$8.0
$6.0
$5.0
$4.0
$2.0
CNY
RUB
$10.0
$8.0
JPY
KRW
0.3%
$10.0
$9.5
BRL
$3.0
$2.5
$2.0
$0.0
FY05
FY06
FY07
FY08
FY09
FY10
EUR
USD
59.0%
 IFC is a US dollar-based institution, all borrowings are swapped into
variable-rate US dollar. 71% of all IFC disbursed loans are
denominated in USD.
19
Funding Program
 Increase of funding program in the last few years has been due in part to the debt
redemption cycle and organic growth in the overall IFC operations.
Funding Program of IFC & peers for 2011
IFC Funding Strategy
(In US$ bn)
87.0
Benchmark
10-20%
Niche Currency
Markets
30-40%
10-20%
Structured
Products
30.0
Retail
15.0
EIB
IBRD
ADB
14.0
IADB
10.0
IFC
8.3
EBRD
5.5
5.0
AfDB
NIB
20-45%
20-25%
Private
Placements
20
IFC Local Currency Domestic Bond Issuances
Colombia – El Dorado Bond
(2002)
• COP 225 bn due 2007
Morocco – Atlas Bond
(2005)
• MAD 1 bn due 2012
China – Panda Bond (2005)
• RMB 1.3 bn due 2015
• Asia Money 2005 Awards, “Best
Local Currency Bond”
Gulf Cooperation Council
(GCC) – Hilal Sukuk (2009)
• USD 100 mn due 2014
Malaysia – WawasanIslamic Bond (2004)
• MYR 500 mn due 2007
• IFR 2005 Awards,
“Malaysia Bond of the
Year”
Peru – Inca Bond (2004)
• Sol. 50 mn due 2007
Brazil – Amazonian Bond (2007)
• BRL 200 mn due 2011
• IFR 2007 Awards, “Best Latin
America Domestic Currency Bond”
CFA Franc - Kola Bond (2006)
• XOF 22 bn due 2011
• Emerging Markets 2007 Awards,
“Deal of the Year Africa”
CFA Franc - Kola II Bond (2009)
• XAF 22 bn due 2014
21
Consistent Issuance Strategy
 Annual US$ benchmark issue in global format since 2000
 Provide a reference bonds IFC versus its peer group
 Top rated global credit and consistent secondary market performance
IFC US$ Secondary Trading Levels
Libor
Levels (bps)
22
Consistent
Benchmark
Execution
Strategy
ConsistentUS$
US$1.0
Billion Benchmark
Execution
Strategy …
Timing based on
investor demand
Strong focus on
secondary market
making
Small, dedicated
lead syndicate
No re-opening
or taps
Book-building
process and
consensus pricing
Diversified global
placement
20 23
Treasury Department Contact Details
Jingdong Hua
Vice President
Phone: +1 202-473-1650
Fax:
+1 202-522-6801
E-mail: Jhua@ifc.org
John Borthwick
Deputy Treasurer, Head of Funding
Phone: +1 202-473-6797
Fax:
+1 202-522-6807
E-mail: Jborthwick@ifc.org
Andrew Cross
Principal Financial Officer
Phone: +1 202-458-4852
Fax:
+1 202-522-6807
E-mail: Across@ifc.org
Ben Powell
Senior Financial Officer
Phone: +1 202-473-1642
Fax:
+1 202-522-6807
E-mail: Bpowell@ifc.org
Evelyn Hartwick
Financial Officer
Phone: +1 202-473-7994
Fax:
+1 202-522-6807
E-mail: Ehartwick@ifc.org
International Finance Corporation (IFC)
2121 Pennsylvania Avenue, NW
Washington, D.C. 20433, USA
24
Appendix
25
Risk Profile – Lending Fully Hedged
Interest Rate Risk
Currency Risk
All proceeds are swapped
to 6 month floating rate
USD
All issues fully hedged, no
exposure to currency or
structured risk
Local currency exposure,
if any, is hedged back to
back via a loan /equity
investment
Swap Counterparties
Zero threshold, CSA in
place with all
counterparties under
AA-/Aa3
Implement CSA with all
counterparties
 IFC’s capital base and its assets and liabilities, other than its equity investments, are
primarily denominated in US dollars.
 IFC seeks to minimize foreign exchange and interest rate risks by closely matching
the currency and rate bases of its liabilities in various currencies with assets having
the same characteristics.
26
Historical Data
Leverage Ratios and Capital Strength
2011
2010
2009
2008
2007
2006
Leverage
2.6
2.2
2.1
1.6
1.4
1.6
Strategic Capital1 (US$ bn)
3.6
4.0
3.9
4.6
5.8
n/a
Historical performance of 5-year benchmarks issued by IFC and its peers
ASW in bps
50
IBRD
25
IADB
0
ADB
EIB
-25
IFC
-50
Jan-10
Mar-10
May-10
Jul-10
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Jul-11
Sep-11
Source: DB, GS and UBS
1. Total resource available less total resources required.
27
IFC - USD 3 billion 5 year Global Benchmark Transaction
Transaction summary
Transaction highlights

Issuer:
Ratings:
Joint bookrunners:
Pricing date:
Settlement date:
Maturity date:
Amount:
Coupon:
Re-offer vs. m/s:
Re-offer vs. UST:
Re-offer price:
Re-offer yield:
International Finance Corporation (IFC)
Aaa / AAA / AAA
J.P. Morgan / HSBC / Citigroup
16 November, 2011
23 November, 2011
23 November, 2016
USD 3.0 billion
1.125% (s.a.)
-9.0 bps
+34.25 bps vs. UST 1.000%, October 2016
99.507
1.227% (s.a.)
Investor demand by region
Americas
29%








On November 16th, J.P. Morgan priced a new USD 5-year Global Benchmark
for International Finance Corporation (“IFC”). This is IFC’s second 5-year global USD benchmark
bond issue of 2011.
Against the backdrop of a worsening European sovereign crisis, the transaction was well received
by investors who flocked to IFC’s safe haven status. The 5-year maturity was chosen to capture
the deepest investor demand.
The transaction was announced at 2 pm London time on Tuesday 15th
November. Orderbooks opened on November 16th, with a guidance of MS-8 area at London open.
The transaction was met positively by investors, with the order book growing
rapidly in the London morning. The book size was over $2 bn by 10am, with
strong interest from Asian and European accounts.
With no price sensitivity in the book, at 12pm price guidance was revised to MS-9bps. By 2pm
London time, US investors saw the book grow closer to $3.5 bn, allowing for the transaction to be
upsized to $3 bn, from an initial $2 bn target.
Books closed at 2.30pm with total orders of more than $3.7 billion from 66
participating accounts. The deal priced in line with the revised guidance of MS-9bps, representing
the tightest pricing achieved by any supranational for a
5year benchmark since 2008.
All major regions were well represented in the book with Asia accounting for
37%, EMEA 34%, and Americas 29%.The book was of very high quality with
Central Banks and Official Institutions accounting for the largest share at 76%.
Investor demand by type
Fund
Managers 6%
EMEA
34%
Banks and
Corporates
18%
CBs/ Off.
Institutions
76%
Asia
37%
28
IFC - USD 2 billion 5year Global Benchmark Transaction
Transaction summary
Transaction highlights
Issuer

International Finance Corporation (“IFC”)
Ratings

AAA/Aaa
Format

Global (SEC-Exempt)
Total Issue Size

USD 2 billion
Coupon

2. 250% (semi-annual, 30/360)
Pricing Date

4 April 2011
Settlement Date

11 April 2011
Maturity Date

11 April 2016
Re-offer Spread

MS-2bps (UST 2.250% Mar-2016 + 18.4bps)
Re-Offer Price

99.456%
Re-Offer Yield

2.366%
 On April 4th, the International Finance Corporation (“IFC”) successfully launched
and priced their first Global benchmark bond offering of 2011 – a $2bn 5year bond
 Official mandate announcement was on Friday, 1st April for execution of a
benchmark transaction in the near future
 The pre-announcement was intended to give investors time to consider the deal
and is in line with IFC’s programme approach at this time of the year
 Books opened early London morning on Monday April 4th following positive feedback
from investors at a spread guidance of MS-2bps area
 Price guidance was considered fair as Asian and European-based real money
accounts drove the momentum of the book building process. Before 8.00am
Washington time, the orderbook was approaching $2bn
 The bond priced at MS-2bps, equating to 18.4bp over the on-the-run UST
 With this transaction, the IFC, a member of the World Bank Group, has achieved an
attractive funding result and the first sub-Libor 5year issue by a supranational since
the autumn of 2008
 In addition, this outcome demonstrates that IFC has sponsorship from some of the
highest quality investors, not only in North America, but across EMEA/Asia and
further strengthens its impressive reputation in the international capital markets
Investor demand by region
Investor demand by type
14%
Americas
32%
EMEA
35%
Central Banks /
Official instituations
65%
Asia 33%
Asset
Managers
Banks /
Corporates
21%
29
Additional Information

IFC’s authorized share capital was increased to $2,450 million through two capital increases in 1992. On
July 20, 2010, the Board of Directors recommended an increase in the authorized share capital of IFC
of $130 million, to $2,580 million, and the issuance of $200 million of shares (including $70 million of
unallocated shares).The Board of Governors also recommended that the Board of Governors approve an
increase in Basic Votes aimed at enhancing the voice and participation of Developing and Transition
Countries (DTCs) and requiring an amendment to IFC’s Articles of Agreement. Currently the voting
power of each IFC member is the sum of its Basic Votes, fixed at 250 votes per member, and its Share
Votes, with one vote for each share of IFC stock held. At present, Basic Votes represents 1.88% of total
IFC voting power. Once the amendment to the Articles of Agreement becomes effective, the Basic Votes
of each member shall be the number of votes that results from an equal distribution among all
members of 5.55% of the aggregate sum of the voting power of all members. The above is expected to
result in a shift of the voting power to DTCs by 6.07% to 39.48%

AAA/AA rated Member Sovereign shareholdings:
Member Sovereign
Australia
Austria
Belgium
Canada
Chile
China
Denmark
Finland
France
Total
Shareholding (%)
2.00
0.83
2.14
3.43
0.49
1.03
0.78
0.66
5.11
Member Sovereign
Germany
Italy
Japan
Kuwait
Luxembourg
Netherlands
New Zealand
Norway
Qatar
Shareholding (%)
5.44
3.43
5.96
0.42
0.09
2.37
0.15
0.74
0.07
Member Sovereign Shareholding (%)
Saudi Arabia
1.27
Singapore
0.01
Slovenia
0.07
Spain
1.56
Sweden
1.13
Switzerland
1.75
United Arab Emirates
0.17
UK
5.11
USA
24.03
70.24%
30
Additional Information (cont’d )
 Not a matter of treaty or law, preferred creditor status derives from the incentives borrowers have to
service debt from IFC when they are unable to service private sector or bilateral debt. These incentives,
in turn, rest on the supranational’s reliable lending, quality programs, and useful technical advice.
 IDA- International Development Association: Through June, 30, 2008, IFC had designated retained
earnings in the cumulative amount of $650 million for grants to IDA for IDA to use in providing financing
in the form of grants in addition to loans, all in furtherance of IFC’s purpose as stated in its Articles of
Agreement. On August 7, 2008, IFC’s Board of Directors approved the designation of $450 million for
grants to IDA for use by IDA in the form of grants in furtherance of IFC’s purpose as stated in its Articles
of Agreement, which was noted with approval by IFC’s Board of Governors on October 13, 2008.

FY11 largest country exposures¹
G7 Country Ratings
June 30, 2011 (Based on IFC’s Account)
Country (rank)
India
Brazil
Russian Federation
Turkey
China
Philippines
Colombia
Argentina
Nigeria
Mexico
Percentage
8.8
6.2
6.0
5.7
5.6
3.0
3.0
2.4
2.4
2.0
Portfolio ($ millions)
Country
S&P
Moody’s
3,766
2,697
2,579
2,422
2,411
1,086
1,073
1,038
1,008
1,003
USA
AA+
Aaa
Japan
AA-
Aa3
Germany
AAA
Aaa
UK
AAA
Aaa
France
AAA
Aaa
Canada
AAA
Aaa
Italy
A
A2
1. Excludes individual country shares of regional and global projects.
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Structured Products
IFC has extensive experience issuing a wide range of structured products.
This experience gives IFC flexibility in offering investors a range of
customized private placements
Examples of Structured Issues











Callable or Puttable notes
Zero Coupon
Discounted Bond
Step-up/Step-down coupon bonds
Range Accrual
Floating rate notes with caps, floors
Notes linked to equity or currency indices
Powered Reverse Dual Currency
FX-linked coupon
Commodity-Linked
Inflation-Linked
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IFC’s Approach to Equity Investments
 IFC own account investments are typically limited to 25% of the total capitalization of the company or the project
 IFC equity ownership is typically limited to 20%
 IFC does not operate companies
IFC invests as a minority
shareholder and structures
investments with exit options,
convertibles etc. to ensure a
realistic exit mechanism.
Realizing full
value on exit
IFC has a long-term investment
horizon that looks beyond shortterm market volatility.
IFC has been able to achieve
significant returns (e.g. telecom
and banking) by seizing early
market opportunities in emerging
markets and partnering with the
right sponsors.
Choosing
right, getting
in early
Adding value
through debt
Selecting
winners
when
markets are
tough
IFC offers a full range of financial
products across the capital structure
to support investee companies
through all business cycles and
foster long term relationships.
33
For further Information…
This document has been prepared for informational purposes only, and the information herein may be condensed or
incomplete. This document does not constitute a prospectus and is not intended to provide the sole basis for the evaluation
of any securities issued by IFC.
For additional information concerning IFC, please refer to IFC’s current “Information Statement,” financial statements and
other relevant information available at:
www.ifc.org/investors
34