Supranationals & Agencies - All Articles

  • Funding scorecard: Nordic agencies

    This week's scorecard looks at the progress Nordic agencies have made in their 2020 funding programmes in mid-September.

    • 18 Sep 2020
  • World Bank prints record seven year Maple

    The World Bank visited the Maple market on Thursday to print the largest ever seven year Canadian dollar bond from a non-domestic issuer, raising C$750m ($569.8m) with a new sustainable development bond (SDB).

    • 18 Sep 2020
  • Covid-19: SSA response bonds

    Sovereign, supranational and agency bond issuers are mobilising their resources to support the fight against Covid-19. The below table details the bonds they have issued, specifically in response to the coronavirus pandemic.

    • 18 Sep 2020
  • EU lining up seismic entry to green bond market

    European Commission president Ursula von der Leyen said on Wednesday that 30% of the funding that the EU will raise for its €750bn pandemic recovery fund will come from green bonds. That kind of volume will mean sweeping changes for the green bond market, causing trepidation in some quarters, while others rejoice.

    • 17 Sep 2020
  • World Bank prints biggest non-UK sterling SSA bond since April

    World Bank gave a big boost to the flagging volumes in the sterling public sector bond market this week with the biggest deal in the currency from a supranational or agency borrower in five months.

    • 17 Sep 2020
  • People moves in brief — September 17, 2020

    García and Gutman given new roles at Goldman — Mizuho hires in convertible bonds — Smida and Coudray handed coverage leadership at Natixis

    • 17 Sep 2020
  • Cades and IDA set new size records

    Caisse d’Amortissement de la Dette Sociale (Cades) and the International Development Association set new size records this week, with the former bringing the biggest ever social bond in dollars and the latter issuing its biggest ever bond since entering the capital markets in 2018.

    • 17 Sep 2020
  • Rentenbank breaks records with public green debut

    Rentenbank made an impressive entry to the green benchmark bond market this week with its biggest ever order book in euros by overall size and number of accounts. Head of funding Leopold Olma, who has spent 20 years with the German development agency’s funding team, called it the “ultimate transaction”.

    • 17 Sep 2020
  • LSEG reveals new MTN platform

    The London Stock Exchange Group has partnered with fintech firm Nivaura for the exchange's new platform, called Flow. LSEG hopes that its adoption of Nivaura’s general-purpose legal mark-up language (GLML) technology will help to establish it as the industry’s automation protocol of choice.

    • 17 Sep 2020
  • AIIB and NDB plan Covid-19 response bonds

    The Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB), two new supranational borrowers focused on the emerging markets, are preparing to issue new dollar bonds to support their member states in the fight against the pandemic.

    • 17 Sep 2020
  • AIIB plans return to dollar market

    The Asian Infrastructure Investment Bank is readying its second dollar bond of the year, which will be used to support its member states in the fight against the pandemic.

    • 17 Sep 2020
  • EU paves way for national approval of recovery plan

    The European Parliament voted in favour of an expansion of the EU’s own resources on Wednesday. The result brings the EU’s €750bn recovery plan one step closer to reality.

    • 17 Sep 2020
  • Covid fuels social bond surge in Asia

    Chinese issuers opened the Covid-19-linked bond market this year, tapping the capital markets to raise funds for relief from the health and economic effects of the virus. More deals have since popped up both in Asia and the world, and experts say the pandemic will change the way issuers and investors think about social bonds in future.

    • 17 Sep 2020
  • Has IFFIm blazed a trail for others?

    Cyrus Ardalan, chair of the board of directors at the International Finance Facility for Immunisation (IFFIm), discussed whether others could follow his organisation's model to finance solutions to social challenges at the GlobalCapital Sustainable and Responsible Capital Markets Virtual Forum 2020 on Wednesday.

    • 16 Sep 2020
  • EU recovery funding will be 30% green

    Ursula von der Leyen, the president of the European Commission, said on Wednesday that 30% of the funding for the €750bn NextGenerationEU budget will come from issuing green bonds.

    • 16 Sep 2020
  • Cades debuts social framework in dollars

    French agency Cades and the International Development Association returned to the dollar market for the first time since the summer break on Tuesday to bring a pair of five year socially responsible deals.

    • 15 Sep 2020
  • Rentenbank makes ‘outstanding’ green benchmark debut

    Rentenbank impressed SSA bankers on Tuesday as rolled out its debut benchmark green bond. The deal is expected to pay no new issue premium at the final spread.

    • 15 Sep 2020
  • NDB aims to improve on pricing and broaden investor base

    The New Development Bank is looking to bring the pricing of its bonds more in line with its triple-A rated supranational peers and grow its investor pool as it prepares to issue its second benchmark in what will be another step towards building a frequent presence in the international capital markets.

    • 15 Sep 2020
  • World Bank prints record breaking rare Kauri

    The World Bank raised NZ$550m ($369.9m) with a rare seven-year New Zealand dollar bond, breaking the record for the largest Kauri bond at that maturity or longer.

    • 15 Sep 2020
  • World Bank readies rare seven year Kauri

    The World Bank hit screens on Monday with a new seven year New Zealand dollar bond; the first at that tenor from a foreign issuer in almost 18 months.

    • 14 Sep 2020
  • Cades lines up first dollar social bond

    French agency Cades will debut its social bond framework in dollars on Tuesday, less than a week after it raised the largest ever bond in the format with its inaugural issue in euros. It will share the market with the International Development Association (IDA), which is preparing to kick off its 2020/21 funding year with a sustainable development benchmark of its own.

    • 14 Sep 2020
  • EU postpones start of SURE funding to October

    The European Union has announced that it will kick-off the funding for its Support to Mitigate Unemployment Risks in an Emergency (SURE) fund in the first half of October after previously aiming for a date towards the end of this month.

    • 14 Sep 2020
  • Rentenbank readies debut green benchmark

    Rentenbank is moving forward with its plans to issue a debut euro green benchmark bond following a series of investor meetings over the past few weeks.

    • 14 Sep 2020
  • IFC appoints regional funding heads

    The International Finance Corporation has named two of its senior funding officers to lead the supranational’s borrowing operations in Europe and Asia.

    • 14 Sep 2020
  • New Development Bank readies second dollar bond

    The New Development Bank has appointed the syndicate to lead its second dollar benchmark, the proceeds of which will fund its coronavirus response.

    • 11 Sep 2020
  • ‘We need Joe Rogan to run the Fed,’ says Hugh Hendry, former CIO of Eclectica AM

    Hugh Hendry, the outspoken founder of former macro hedge fund Eclectica Asset Management, told GlobalCapital he sees no evidence for the re-emergence of global macro as a broad and viable investment strategy. Were volatility to rise again, Hendry says he may well get back into the financial fray but the likelihood of that is vanishingly slim.

    • 11 Sep 2020
  • ÖKB prices through curve with five year dollar deal

    Österreichische Kontrollbank (ÖKB) kept up the strong momentum from European public sector borrowers in the dollar market on Thursday with a well received five year deal which priced through its own curve.

    • 10 Sep 2020
  • World Bank takes size as Hamburg lands safely after stumbling start

    Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.

    • 10 Sep 2020
  • EIB kicks off five year dollars, OeKB to follow

    The EIB kicked off the post-Labor Day SSA dollar market on Wednesday with a five year deal, it's third of the year. Oesterreichische Kontrollbank (OeKB) is set to follow, having mandated for its second five year dollar deal of the year.

    • 09 Sep 2020
  • CDC to finish 2020 programme with MTNs

    French agency Caisse des Dépôts et Consignations is planning to round off its 2020 funding through private placements. It was last active in the market at the end of last week, selling a long dated callable bond to an investor hunting for a yield pick-up versus Bunds.

    • 09 Sep 2020
  • Cades prints biggest ever social bond with debut

    Caisse d’Amortissement de la Dette Sociale (Cades) made an impressive debut in the social bond market on Wednesday with the biggest ever deal in the format by any issuer, overtaking the previous record set by Unédic earlier in the year.

    • 09 Sep 2020
  • EU could give sustainable bond market the biggest boost

    The European Union is about to kick-start its huge borrowing programme for the Support to Mitigate Unemployment Risks in an Emergency (SURE) fund later this month. It is expected to bolt on additional financing needs for its recovery fund too, once that has been ratified. That could mean up to €100bn of new supply by the end of next year. Printing that as sustainability bonds will give that market the best fillip it could wish for. The EU must seize this opportunity given its commitment to the cause.

    • 08 Sep 2020
  • CDC prints second sustainability bond, Cades to follow

    As Caisse des Dépôts et Consignations (CDC) returned to the sustainability bond market on Tuesday to sell its second bond in the format, fellow French agency Caisse d’Amortissement de la Dette Sociale (Cades) mandated for its own sustainability bond debut.

    • 08 Sep 2020
  • EIB out with five year dollars as 2020 funding programme nears end

    The European Investment Bank hit screens with a five year dollar benchmark on Tuesday in what will be the latest in a series of European supranationals and agencies issuing bonds in this currency and maturity.

    • 08 Sep 2020
  • Ex-Goldman SSA banker joins asset manager

    A former sovereign, supranational and agency bond syndicate banker at Goldman Sachs has joined an alternative investment management firm as a fixed income trader.

    • 08 Sep 2020
  • CDC mandates sophomore sustainability bond

    French agency Caisse des Dépôts et Consignations (CDC) hit screens on Monday afternoon with its second ever sustainability bond, following its debut in the format last year.

    • 07 Sep 2020
  • Funding scorecard: supranationals

    This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the beginning of September.

    • 04 Sep 2020
  • Cades hires banks to structure social framework

    Caisse d’Amortissement de la Dette Sociale (Cades) has mandate a pair of banks to help it structure its new social bond programme.

    • 04 Sep 2020
  • SSAs opt for five years in dollars

    A trio of European SSAs raised a combined $6bn with five year dollar benchmarks this week. Kommunalbanken, the European Stability Mechanism and Nordic Investment Bank all hit a “very deep pocket” of demand in the tenor.

    • 03 Sep 2020
  • AIIB doubles up for Hong Kong dollar return

    The Asian Infrastructure Investment Bank (AIIB) returned to the market this week to place two more deals, as it ramps up its MTN issuance following a debut in Hong Kong dollars last Friday.

    • 03 Sep 2020
  • NIB expands lending capacity with updated statutes

    Nordic Investment Bank has updated its statutes, modernising and improving its risk and capital management systems. Henrik Norman, the supranational’s CEO, believes the update will improve NIB’s flexibility and allow it to act more quickly as well as expanding its lending capacity.

    • 03 Sep 2020
  • MuniFin prints debut social bond

    In a busy week for European sovereign sustainable issuance, Municipality Finance took the chance to sell its debut social bond — the first in the format from any Nordic SSA.

    • 03 Sep 2020
  • European SSAs light up five year dollar mart

    The European Stability Mechanism hit dollar the market on Wednesday with a five year benchmark — its fourth ever in the currency. Two Nordic issuers are set to follow suit on Thursday.

    • 02 Sep 2020
  • EIB’s energy and climate VPs leave, prompting reshuffle

    Two senior officials who have been central to the European Investment Bank’s transition to greener lending and rebranding as the EU’s ‘climate bank’ are leaving, prompting a reshuffle of the management committee.

    • 01 Sep 2020
  • ESM jumps in early for dollar debt

    The European Stability Mechanism (ESM) is returning to the dollar market for its fourth dollar benchmark, two weeks ahead of its scheduled funding window.

    • 01 Sep 2020
  • Cades looks to social bonds as mandate extends to 2033

    Caisse d’Amortissement de la Dette Sociale (Cades) is setting up a social bond programme to help finance an increasing deficit in France’s social security system.

    • 01 Sep 2020
  • Ex-Commerz SSA trader resurfaces at NordLB

    A former sovereign, supranational and agency bond trader at Commerzbank has joined NordLB after an almost two year hiatus from the capital markets.

    • 01 Sep 2020