Asian Development Bank ADB
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The Asian Development Bank on Wednesday hit the $4bn mark for the first time with a dollar benchmark, taking advantage of a dearth of supply and offering a bit of juice to harvest a hefty amount of cash. -
The European Bank for Reconstruction and Development on Tuesday equalled its largest ever size in dollars on Tuesday with a deal priced flat to or through its curve. The Asian Development Bank is set to follow in a market in which issuers are winning demand from investors starved of supply, said bankers.
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A flurry of activity in the market for socially responsible investments shows no sign of letting up, with two borrowers set to make their debut next week and two more waiting in the wings.
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Asian Development Bank will issue its first green bonds in the Uridashi market in May, with Daiwa Securities as dealer.
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A higher than expected UK inflation rate led to a sell-off in Gilts this week, a move that may put an end to what has been a remarkable run of traffic in sterling SSA bond issuance.
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The European Investment Bank on Tuesday became the sixth European public sector borrower to hit screens in sterling since March 13, tapping a January 2020 line for £250m. But UK inflation figures could put an end to the currency's run in the sun. Meanwhile, investors and banks discussed what form the next UK Gilt syndication should take.
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The Bank of England's Monetary Policy Committee on Thursday voted to keep its base rate at 0.25%, but a dissenting voice and a hawkish tone to the minutes have caused a Gilt sell-off at the short end.
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The Province of Ontario and Rentenbank tapped bonds at the long end of the Kangaroo curve this week, while the Asian Development Bank (ADB) mandated banks for a new Australian dollar bond.
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The Asian Development Bank is set to issue a 10.5 year Australian dollar bond on Friday.
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The prospect of a far-right leader becoming president of France rocked government bond markets this week. It led to a rare pulled French agency deal and will cause the country’s banks problems with their own huge funding needs. But as other issuers in eurozone countries facing elections showed, the picture of the risks ahead is complicated. Craig McGlashan reports.
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The Asian Development Bank on Thursday hit new heights in benchmark issuance, as it sold its largest ever single tranche deal in a week that has been marked by tricky conditions.
