Supranationals & Agencies - All Articles

  • CPPIB Capital hops in with green kangaroo debut

    CPPIB Capital came to market on Tuesday for a green benchmark in Australian dollars, its first syndication in the currency.

    • 15 Jun 2021
  • AfDB feels hot response for sterling five year

    African Development Bank launched a sterling benchmark on Tuesday, raising £600m with its first new line in sterling since 2017.

    • 15 Jun 2021
  • EU sends ‘very strong signal’ with €20bn debut NGEU bond

    The European Union generated a blowout reception for its debut bond under the €800bn Next Generation EU (NGEU) programme on Tuesday, although it paid a sizeable new issue premium of 4bp-5bp according to senior bankers away from the deal.

    • 15 Jun 2021
  • SSA underwriting fees: pandemic has given market something to fight over

    The EU wheeled out the first syndication for its €800bn Next Gen funding programme on Tuesday. The deal marks the start of a borrowing programme of remarkable size that has taken much planning. But it also marked the start of the EU paying lower underwriting fees than have been standard in the SSA market for a decade. The EU's decision sparked controversy in the market between banks and other borrowers looking to do the same. GlobalCapital takes a look at what is at stake.

    • 15 Jun 2021
  • SSA secondary pricing update: Greece 10 year tap tightens by 16bp

    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, June 14. The source for secondary trading levels is ICE Data Services.

    • 15 Jun 2021
  • Ico returns to green bond market with updated framework

    Spain’s Instituto de Crédito Oficial hit the market for its third green bond on Monday, giving its newly updated framework for the product its first airing.

    • 14 Jun 2021
  • NGEU debut bond announced as EC excludes banks found guilty of anti-trust violations

    The European Union announced the mandate for the inaugural bond for its €800bn Next Generation EU (NGEU) scheme on Monday morning as the European Commission ruled on prohibiting banks which have been found guilty of breaching anti-trust rules from appearing on syndications for the programme.

    • 14 Jun 2021
  • Ico CFO wants EU social taxonomy

    Antonio Cordero Gomez, chief financial officer of Instituto de Crédito Oficial, spoke to GlobalCapital about the need for continued innovation in the world of ESG labelled bonds, and about Ico’s role in fighting the economic consequences of coronavirus.

    • 14 Jun 2021
  • UK must avoid the EU’s Taxonomy gaffes

    Does the world need another taxonomy of what is green?

    • 10 Jun 2021
  • EU to ‘test depth’ of bond market with Next Gen summer splash

    Bring it on. That was the summary of the European Union’s investor call on Tuesday as it laid out its bold issuance plan to tackle its €800bn Next Generation EU (NGEU) funding programme. The EU could raise up to €45bn before the end of July, with the first deal set to hit screens early next week, reports Burhan Khadbai.

    • 10 Jun 2021
  • OeKB ready for Sonia and Sofr in Q3

    Österreichische Kontrollbank (OeKB) will be ready to issue floating rate notes linked to the recommended new risk free rates in sterling and dollars in the third quarter of 2021.

    • 10 Jun 2021
  • Ico lines up new green bond

    The Instituto de Crédito Oficial, Spain’s promotional bank, is holding a series of investor meetings to promote a new green bond.

    • 10 Jun 2021
  • BofA puts big hitters on EMEA ESG council

    Bank of America has set up an EMEA ESG strategic council chaired and led by three senior investment bankers, to intensify its effort to reduce its carbon footprint and manage its climate risks.

    • 10 Jun 2021
  • Greece and NRW.Bank add to euro SSA supply ahead of ECB

    Greece and NRW.Bank added to the week’s primary euro public sector supply on Wednesday ahead of a closely watched European Central Bank governing council meeting on Thursday.

    • 09 Jun 2021
  • Bond markets eager for ECB reassurance

    Bond market participants will be on tenterhooks for the European Central Bank’s latest monetary policy decision on Thursday. The rapidity of the European recovery, and the apparent return of inflation have stoked fears that the ECB would begin to discuss tapering its asset purchase programmes.

    • 09 Jun 2021
  • AfDB sells debut social kangaroo bond

    The African Development Bank sold its first kangaroo bond in social format on Tuesday as supply of ESG-labelled bonds in niche currencies by public sector borrowers gathers pace.

    • 08 Jun 2021
  • FMO pulls down $500m of five year funding

    FMO, the Dutch development agency, hit the market on Tuesday for a $500m five year bond.

    • 08 Jun 2021
  • PMM: Challenging conditions advance green revolution

    Issuance seized up across most markets last week with lower rated FIG and corporate deals staying clear of the primary market as many participants struggled with a combination of low subscriptions and tight spreads. Subscriptions remain deflated but concessions fell across the board as increased selectivity led to more focus on green/sustainable labels.

    • 08 Jun 2021
  • CPPIB prints first public Sonia FRN as OeKB lines up

    CPPIB Capital sold its first public Sonia floating rate note on Monday, with Oesterreichische Kontrollbank set to be the next public sector borrower to hit the sterling market after mandating banks for a long four year fixed rate benchmark.

    • 07 Jun 2021
  • SSAs flock to euros ahead of crucial ECB meet

    Public sector borrowers have got off to a busy start to the week in euros, with two live deals on Monday set to be followed by at least three on Tuesday, including Italy, as issuers look to get in ahead of a hotly anticipated European Central governing council meeting on Thursday.

    • 07 Jun 2021
  • EU seeks €11bn+ for debut NGEU deal

    The European Union has sent banks a request for proposals for the first issuance under its Next Generation EU (NGEU) programme, with the maiden deal expected to be a chunky size.

    • 07 Jun 2021
  • EU readies €800bn bond programme as ECB tapering looms

    The European Commission unveiled the initial funding plan for its €800bn Next Generation EU (NGEU) programme this week. Issuance will begin sooner than expected, as suspicions mount that the ECB will start tapering purchases for its Pandemic Emergency Purchase Programme (Pepp) to fight rising inflation. Burhan Khadbai reports.

    • 03 Jun 2021
  • Rates traders see better buying, but long end questioned

    The sovereign, supra and agency sector has seen better buying interest over the past week, but the long end continues to look more vulnerable ahead of the European Central Bank meeting and expected supply.

    • 03 Jun 2021
  • CEB sells tightest SSA dollar deal versus mid-swaps in 2021

    Two SSA borrowers sold dollar paper on Thursday. Council of Europe Development Bank achieving the tightest spread to mid-swaps from a public sector borrower this year, breaking a record equalled earlier this week by Asian Development Bank. At the other end of the curve, Inter-American Development Bank made its debut at the 10 year maturity with a deal linked to the Secured Overnight Financing Rate (Sofr).

    • 03 Jun 2021
  • KfW brings tightest ever Sonia FRN with debut

    KfW sold its first Sonia floating rate note on Wednesday, with the deal pricing at the tightest ever spread for the product in syndicated format.

    • 03 Jun 2021
  • Council of Europe lines up social inclusion bond after ADB dual tranche

    The Council of Europe Development bank will come to market on Thursday for a $500m no-grow social inclusion bond maturing in June 2024.

    • 02 Jun 2021
  • EIB hires funding official from BMW

    Tobias Rischen joined the European Investment Bank in Luxembourg on Monday as an associate funding officer.

    • 02 Jun 2021
  • EU to raise €80bn in long-term funding for NGEU in 2021

    The European Union has announced the initial borrowing plan for its Next Generation EU (NGEU) programme in 2021, with the first deal set to arrive later this month.

    • 02 Jun 2021
  • Former Citi banker joins Santander to run FIG and SSA DCM

    Santander has hired Abraham Douek from Citi to lead its coverage of financial institution and SSA clients within debt capital markets.

    • 01 Jun 2021
  • NatWest to bolster SSA headcount in Paris

    NatWest Markets will post two SSA bond bankers to Paris this summer, including the head of its frequent borrower group syndicate.

    • 01 Jun 2021
  • EU announces primary dealers for €800bn funding programme

    The EU has published the first list of its primary dealers to lead the bloc’s mammoth Next Generation EU (NGEU) funding task, which could start as soon as this month following the ratification of the bloc's Own Resources Decision.

    • 01 Jun 2021