BAKU, Azerbaijan, May 2. The International Finance Corporation (IFC), a member of the World Bank Group, has issued its inaugural benchmark public bond denominated in Hong Kong dollars (HKD), raising HKD 5 billion (approximately USD 650 million), Trend reports via the IFC.
This marks the largest HKD-denominated bond issuance by a supranational entity to date.
The three-year social bond attracted strong investor interest, with the offering oversubscribed by more than double. Demand came from a wide range of institutional investors across the Asia-Pacific region, including significant participation from Hong Kong-based institutions.
The transaction is also the first public-format social bond in HKD issued by a supranational, settled through the Central Moneymarkets Unit. It was issued under IFC’s updated Social Bond Framework, released in January 2025, which received an “excellent” rating from Sustainable Fitch for its full alignment with the International Capital Market Association’s Social Bond Principles.
Bank of China (Hong Kong) Limited, HSBC, and Standard Chartered acted as joint lead managers for the issuance.
Proceeds from the bond will finance a broad spectrum of social development projects, including access to clean water and sanitation, affordable housing, essential services, support for women-owned small and medium-sized enterprises (SMEs), and businesses promoting food security and inclusive value chains.