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Asian Development Bank ADB

  • Two supranationals hopped into the Kangaroo market with environmental, social governance (ESG) bond taps this week, in a move that is becoming increasingly popular. With a local holiday this weekend marking the end of antipodean summer, bankers expect Australian dollar issuance to restart in the next few weeks.
  • The Asian Development Bank came in tight for a 10 year euro deal, pricing close to the level of World Bank's seven year sold earlier this month
  • SSA
    Nederlandse Waterschapsbank and the State of Brandenburg took advantage of a lack of euro SSA supply this week to bring well subscribed deals on Tuesday. The Asian Development Bank will be looking to follow with a 10 year euro benchmark on Wednesday.
  • A pair of Asian SSA issuers joined a busy dollar market on Wednesday, bringing three and 10 year deals. Demand for three year dollar paper is high, with two more issuers set to join the fray on Thursday.
  • Demand for the Asian Development Bank's new five year Kauri print — the first SSA deal in the market since August — soared on Wednesday, leading to the deal being increased twice during pricing. With several frequent issuers also circling the market, bankers expect more to follow.
  • KfW and Canada both launched dollar benchmarks on Wednesday, bringing a pair of highly subscribed and tight deals. Following their success, two Asian SSA issuers prepare to join the busy dollar market.
  • The Asian Development Bank is “testing the market” with a new five year New Zealand dollar bond — the first Kauri deal of 2020 and the first from a SSA issuer since last August.
  • US food group General Mills sold €200m of short dated notes on Wednesday, in its first sole-led deal since 2017.
  • This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the beginning of December, with some issuers also setting their funding targets for 2020.
  • This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the middle of October.
  • Rating: Aaa/AAA/AAA
  • Asian Development Bank came tight to its curve as it printed its second euro green bond this week — and its largest — following its debut last year.