Asian Development Bank ADB

The World Bank will test the short end in dollars on Wednesday, after a pair of issuers came at opposite ends of the curve on Tuesday.

Asian Development Bank has made its first foray into the green bond format, joining a small group of issuers at the long end of the market. The debut attracted a strong bid from real money investors, parched for high quality green debt.

Asian Development Bank attracted a strong bid from real money investors to a debut green bond on Thursday.

Asian Development Bank has mandated banks for its debut green bond, set to be priced on Thursday, while World Bank opened subscriptions for a green index linker.

A trio of public sector issuers are in the market for senior funding officials after a flurry of moves over the last few weeks. But a fourth borrower, which also lost a senior funding figure, has already appointed a replacement.

An international development bank funding veteran has moved from his treasurer job at one supranational issuer to the same position at another borrower.

A pair of supranationals hit the bid for seven year dollar benchmarks at a small spread to mid-swaps this week, after dollar curves flattened in the wake of the European Central Bank announcing a programme of bond buying in late January. The issuers took advantage of strong market conditions ahead of markets shutting down next week because of a holiday in the US on Monday and the start of Chinese New Year holidays later in the week.

The Asian Development Bank priced a $2.25bn seven year on Tuesday at the same level versus mid-swaps as the World Bank printed a $4bn deal in that tenor last week. More issuers could follow given the strong demand at the long end of the curve in dollars.

KfW, Asian Development Bank and Agence Française de Développement will sell dollar benchmarks on Tuesday in what SSA bankers said is a calmer backdrop than last week. Export-Import Bank of Korea was first to come to market in dollars this week and was set to price a dual tranche deal during the New York day on Monday as GlobalCapital went to press.

Asian Development Bank raised over A$1bn ($808.3m) with a new five year Kangaroo and a tap of a 10 year line in the format on Friday, while European Investment Bank topped up its May 2018s to A$1bn. Bankers expect more supply in Australian dollars from public sector borrowers next week.

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

Vietnam’s Masan Group has opened books on what will be the longest bond issued under the Asian Development Bank’s debt guarantee scheme. It is one of two companies with bonds out under the scheme.