Asian Development Bank ADB

Asian Development Bank opened proceedings on two Kangaroo taps on Monday.

The Asian Development Bank (ADB) has given yet another boost to the Masala bond market, raising Rp14bn ($217m) from its third offshore-rupee linked note of the year.

The scores have been counted and the results for the benchmarks sold in the week commencing May 29 are in. The week produced only a smattering of public sector trades trades, and not all were warmly received.

There was just a smattering of public sector dollar deals this week — but a wide difference in how they fared.

Public sector borrowers are aiming for the short end of the dollar curve, as swap spreads in the area hover around the spot in which they started 2017, having dropped sharply from the year’s highs hit in March.

With many borrowers far ahead of schedule in their funding programmes and ebullient mood of the past month receding, attention is turning to more strategic trades as well as socially responsible issuance.

Asian Development Bank will visit the rare four year part of the dollar curve on Wednesday, after picking banks for a minimum $1bn June 2021 global.

Credit Guarantee & Investment Facility (CGIF) and infrastructure consulting firm Surbana Jurong are joining up to boost the use of local currency bonds in funding greenfield infrastructure projects in southeast Asia.

The Asian Development Bank (ADB) printed its inaugural Rp3bn ($47m) green Masala bond on Wednesday, aimed at supporting the financing of climate change mitigation and adaptation projects in India, the agency said.

Kommunalbanken on Tuesday became the first issuer to tap the Kauri market since February. The Nordic agency responded to reverse enquiries, tapping an eight year bond at an after-swap pricing level that was a little over its dollar curve.

Asia is overloaded with infrastructure projects hungry for financing, even though there is money to fund them. How to bring the two together is the question raised by panellists at the Asian Development Bank’s annual meeting in Japan — and for some local currency lending is the way forward.

The votes have been counted and the GC BondMarker verdict has been reached for last week's trades. See how they stacked up.