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◆ KfW sells another green deal in active year for the label ◆ Less than 2bp NIP paid this time ◆ FMO prices in line with MuniFin, Tennet NL
◆ Deal followed Sofr debut in February ◆ Further interest already seen, taps possible ◆ Pricing came slightly inside fixed rate dollars
‘Outstanding year’ of funding overall for the bank in across currencies, €800m left to fund until year-end
Weakness observed, but liquid issuers in defensive maturities with ‘good concession and a bit of yield’ have little to fear
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SEC exemption 'crucial' for IDA with spreads to World Bank and other tier one SSAs to converge over time
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'Good progress' made on Sonia trade, groundwork being laid for public Hong Kong dollar bond
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◆ IDA sells first dollar Global benchmark, 'good deal' ◆ Rentenbank struggles to cover 10 year book ◆ Demand for long-dated dollar paper wanes
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◆ Bloc confirms 30 year demand ◆ Both tranches priced off own curve, 2bp NIP paid ◆ One new line left to open in 2026
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◆ Issuer's first sterling deal since Feb 2024 ◆ Large order book, decent levels ◆ Enough peer comps to build curve
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Bloc steals focus in euro market this week as World Bank's IDA brings SEC-exempt debut in dollars