Most of the autumn's first crop of benchmarks met with ringing approval from our voters but none more so than the dual tranche dollar deal from the Development Bank of Japan. Both the five and 10 year tranches of DBJ's deal received the top scores of the week in every category. The ambition of the 10 year transaction drew slightly higher grades for every category except quality of investor book, in which the five year edged it out.
The two jumbo dollar transactions from KfW and World Bank also received good grades, scoring over seven in every category. However, both were outperformed by Svensk Exportkredit's $1bn five year, perhaps reflecting the opinions of some SSA bankers who believe the dollar sweet spot in September will be at five years.
In euros, Unédic and Rentenbank also impressed the voters, particularly in the performance metric.
Click here to score this week's bonds.
