The European Financial Stability Facility, Finland and KommuneKredit all launched euro transactions, raising a combined €6bn in tenors from five to 23 years.
Remarkably, faced with two of the euro market's most respected issuers, KommuneKredit — a relative upstart in the currency that returned to it in 2015 after an eight year absence — pulled off the highest grade of the week.
Its five year received perfect scores for structure/maturity and timing. Click here for the KommuneKredit bond comment.
Only the finest of margins allowed KommuneKredit to edge out Finland's excellent €3bn 10 year. The sovereign's benchmark received nine or more in every category but drew particular praise for its structure and maturity. Click here to read Finland's bond comment.
EFSF, though it arrived in third place this week, still drew impressive scores, particularly for performance. The supranational's decision to issue in the off-benchmark 23 year maturity also received the approval of the BondMarker voters. Click here to read EFSF's bond comment.
