Discount Notes Factsheet

Quality Credit for Short-Term Investment Opportunities

IFC Discount Notes

About IFC

IFC launched its Discount Note Program in 2009 to provide additional funding andliquidity management in support of certain trade finance and supply chain initiatives.

IFC, a member of the World

The program was also designed to expand the availability of short-term local
currency finance to clients by introducing offshore Renminbi discount notes,
establishing IFC as the first multilateral institution to undertake such an initiative.
It is an important financial solution that provides investors with a safe vehicle forshort-term investment, while expanding IFC’s options for funding development
activities in emerging markets.

global development institution

During FY24, IFC issued $7.7 billion in discount notes. As of June 30, 2024, theoutstanding amount under the program stood at $2.3 billion.
BETWEEN FY10 AND FY24, IFC
RAISED ~$12 BILLION PER YEAR.

AVERAGE NUMBER OF TRANSACTIONS PER YEAR

focused on the private sector
in emerging markets. We workin more than 100 countries,
using our capital, expertise,and influence to create markets
and opportunities in developingcountries. In fiscal year 2024,
IFC committed a record $56
billion to private companies
and financial institutions in200

developing countries, leveraging
private sector solutions andOur Discount Notes Features

mobilizing private capital to•

Available in USD and CNH.

•Maturities ranging from overnight to 360 days.

•Minimum order is $100,000 aggregate face amount per maturity date.

•Offered through 13 dealers.

•Available in bearer form only.

•Daily price posting on Bloomberg IFC<go>11 and ADN<go>8.

•Settlement via Fedwire for USD discount notes and RTGS in Hong Kong for CNH.

Dealers and Fiscal Agents
U.S. Dollar Discount Notes

CNH Discount Notes•

Barclays Capital•Standard Chartered Bank•

BofA Securities

•

HSBC

•

CastleOak•

Mizuho•Jefferies•

Nomura•JP Morgan•

JP Morgan•

Mesirow•

Credit Agricole•

Mizuho•Nomura•UBS•

Wells Fargo

IFC’s CNH Discount Notes are cleared
through Central Moneymarkets
Unit, Euroclear and Clearstream, andare settled through Real Time Gross
Settlement in Hong Kong. Citi acts asFiscal Agent.

The Federal Reserve Bank of New Yorkacts as Fiscal Agent.

Bank Group, is the largest

create a world free of poverty ona livable planet.

The credit profile of theInternational FinanceCorporation (IFC) reflects
a robust capital base, avery strong liquidity andfunding position, strongrisk management, and thepresence of highly rated
shareholders with a strong
willingness and capacity tosupport the corporation.
MOODY’S INVESTORSERVICES, January 2024.

The stable outlook reflects S&P Global Ratings’ expectation that IFC will maintain

AAA RatingConsiderations

high capital, strong liquidity, and robust risk management policies. We expect
IFC will continue to deliver on its mandate as its operational and financial model
overhaul in recent years positions it to further mobilize higher levels of private-•

Owned by 186 member
countries, with over
50% of capital owned by
AAA/AA sovereigns.

•

Strong capital position
primarily raised throughretained earnings fromsteady profits since 1956.

•

Substantial liquidity buffer
with highly conservativeliquidity coverage ratio (LCR)
and leverage ratios.

•Diverse investor basewith reliable access tothe deepest global
capital markets.

•Highly diversified debtand equity portfoliowith exposure spanning
118 countries and over
2,000 companies.

•

Consistently rated AAA/Aaaby S&P and Moody’s since its
first assessment in 1989.

•Assigned a 0% risk
weighting under theBasel Framework.

sector investment and play a central role in the One World Bank strategy to end
extreme poverty and boost shared prosperity on a livable planet.
S&P, GLOBAL RATINGS, March 2024

FIGURE 1: IFC shareholders
JAPAN7%

GERMANYFRANCEUNITED KINGDOMINDIACANADAITALY
CHINA
RUSSIANFEDERATIONSAUDI ARABIANETHERLANDSBELGIUM
AUSTRALIA
SWITZERLAND
BRAZILSPAIN
ARGENTINA
INDONESIA

5%4%
3%

18%

SHAREHOLDERS
2%
UNITED 25%
STATESSWEDEN
164 OTHERCOUNTRIES NIGERIAKOREA, REPUBLIC OF

FIGURE 2: FY24 Investor Distribution

1%

INTERNATIONALCORPORATION

27%

U.S.
CORPORATIONINVESTOR
DISTRIBUTION

6%CENTRAL
BANK

3%2%

MULTILATERALORGANIZATION

62%

0.10%, MONEY

MANAGER

U.S. STATES/MUNICIPALITY

Our Value Proposition•IFC’s mission as part of the World Bank Group is to end extreme poverty andboost shared prosperity on a livable planet.

•We promote sustainable growth through investments in the private sector ofdeveloping countries.

•IFC has more than six decades of experience mobilizing resources in capital
markets to support economic growth and development in emerging markets.

•IFC plays a countercyclical role during times of economic and financial uncertainty.

•

We provide advisory services across a wide range of sectors, including
renewable energy, agriculture, health, education, and financial markets, todeveloping economies.

This document does not constitute an offer or recommendation to purchase any notes issued by IFC.

Photo credit: IFC/Emídio Jozine

Funding and Investor Relations Contacts
GLOBAL HEAD OF FUNDINGDISCOUNT NOTESFlora Chao | fchao@ifc.org

Umpai Israngkura Na Ayudhya | Senior Financial Officer | uisrangkuranaayudhya@ifc.org

WASHINGTON D.C.
Yuri Kuroki
Head of Funding Americas
ykuroki@ifc.org
Zauresh Kezheneva
Financial Officer
zkezheneva@ifc.org

WASHINGTON D.C.
Investor Relations
Ayelet Perlstein
Head of Investor Relations
aperlstein@ifc.org
Obert Limbani
Associate Financial Officerolimbani@ifc.orgMarsha Monteiro
Financial Analyst
mmonteiro@ifc.org

LONDONSINGAPORE

Elena Panomarenko
Head of Funding - Europe
epanomarenko@ifc.org

Marcin Bill
Head of Funding - Asia
mbill@ifc.org

Roland Maassen
Associate Financial Officer
rmaassen@ifc.org

Hiroyasu Hirano
Financial Officer
hhirano@ifc.org

Investor Relations
Laura Stirling
Digital and Communication
Coordinatorlstirling@ifc.org

International Finance Corporation 2121 Pennsylvania Avenue NW, Washington, DC 20433
www.ifc.org | www.ifc.org/investors

TOKYOInvestor Relations
Yutaka Yasui
Senior Financial Officer
yyasui@ifc.org