AfDB

Investors are still hungry to put their money to work in short dated dollars after a bumper last week, with the European Investment Bank on Tuesday set to price a $4.5bn three year bond and the African Development Bank mandating for a two year benchmark.

This week's funding scorecard looks at the progress supranationals have made in their funding programmes.

Bankers on and off the deal deemed the African Development Bank’s first foray into the euro market a success, thanks to the borrower's cautious approach to size and pricing.

The African Development Bank’s funding team will be “heroes” if the issuer’s debut euro benchmark is a success on Friday, said SSA bankers away from the deal.

Rating: Aaa/AAA/AAA

The African Development Bank has printed a $1bn no-grow to, it is thought, cap off the week's flurry SSA dollar bonds before primary markets dry up ahead of the US rates decision next week.

African Development Bank and Nordic Investment Bank both tapped 2026 Kangaroo bonds this week. But investor interest in the Kangaroo market is diminishing, the supras said.

The long end of the Kanga curve saw action this week, as Japanese investors hunted for yieldy paper.

The African Development Bank has sold an A$35m ($26.6m) tap of its June 2026 Kangaroo bond.

African Development Bank has sold a GHS5m ($1.26m) 16% one year note to an offshore investor.

This week's scorecard looks at where supranationals are in their funding programmes ahead of the September rush.

African Export-Import Bank has appointed a new director for syndications, after hiring another senior loan syndication banker earlier this summer.