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Sub-Sovereigns

Land NRW’s funding needs to reach up to €40bn for 2020

The State of North Rhine-Westphalia (Land NRW)’s borrowing programme for the year is on the up and could reach an all-time high in response to the region’s fiscal package to counter the impact of the coronavirus pandemic.

03 Apr 2020
Covid-19: SSA response bonds

SSAs are mobilising their resources to support the fight against Covid-19.

03 Apr 2020
Gaggle of SSAs favour themed bonds

Thursday’s market was heaving with SSAs printing euro deals, many of them opting for themed deals, some of which are specifically addressing the coronavirus outbreak, with bankers suggesting that these are enjoying the hottest demand.

02 Apr 2020
Crédit Ag powers up rankings as early effects of corona crisis hit SSA market

SSA borrowers are going to be scrambling for cash to meet expanded borrowing requirements as they finance the fight against the coronavirus and its effects, but a period of four weeks where the market was all but shut have left the run-rate slightly behind the last few years.

01 Apr 2020
SSA secondary pricing update: Euro deals outperform dollars

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, March 30.

31 Mar 2020
CPPIB leads Canadians to tricky euro market

CPPIB Capital hit the euro market on Monday, becoming the first SSA borrower not eligible for QE to access the market since the coronavirus outbreak shuttered the market.

30 Mar 2020
Swissies get to grip with wildly wider spreads

Issuers and investors in the Swiss franc market are grappling with much wider spreads on domestic and foreign issuers because of the volatility around the coronavirus pandemic.

26 Mar 2020
SSAs pile into bond market to fight Covid-19

Public sector borrowers returned en masse to the primary bond market this week, with many selling new issues with an explicit focus on providing emergency financing in response to the coronavirus outbreak.

26 Mar 2020
Investors demand crazy rich NIPs as SSA market reopens

The primary public sector bond market came back to life on Tuesday as a pair of sovereigns and the European Investment Bank sold deals alongside German states.

24 Mar 2020
SSA secondary pricing update: Land NRW bucks trend and performs

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, March 23.

24 Mar 2020

Sub-sovereigns news archive

Bond Comments

Land NRW EUR2bn 0.2% Mar 27

26 Mar 2020
Madrid EUR1.25bn 0.419% Apr 30 sustainable bond

20 Feb 2020
Quebec USD2.5bn 1.5% Feb 25

06 Feb 2020
Land NRW EUR1.3bn 1.375% Jan 20

09 Jan 2020
Land NRW EUR1bn 0% Nov 29, EUR1.5bn 0.5% Nov 39, sustainable bond

21 Nov 2019
Land NRW GBP250m FRN Oct 24

10 Oct 2019
Ontario USD1.25bn 2% Oct 29

26 Sep 2019
Land Schleswig-Holstein EUR500m 0.2% Aug 39

08 Aug 2019
Land NRW EUR1.5bn 0.8% Jul 49

25 Jul 2019
Land NRW USD1.5bn 1.875% Jul 22

18 Jul 2019
Wallonne EUR500m 0.25% May 26 sustainability bond, EUR500m 1.25% May 34 sustainability bond

25 Apr 2019
Manitoba USD1bn 2.60% Apr 24

11 Apr 2019
Basque EUR600m 1.125 % Apr 29 sustainability bond

11 Apr 2019
Hamburg EUR500m 0.8% Apr 34

04 Apr 2019
Quebec USD1bn 2.50% Apr 24

04 Apr 2019
Land Berlin EUR500m 0.75% Apr 34

28 Mar 2019
Land NRW EUR1.26bn 2.15% Mar 19 tap

21 Mar 2019
Andalusia EUR700m 1.375% Apr 29

21 Mar 2019
Land NRW EUR2.5bn 0.25% Mar 26, EUR2.25bn 1.1% Mar 34 sustainable bond

07 Mar 2019
Galicia EUR400m 1.45% Apr 29

28 Feb 2019

SSA Bond Comments Archive