AfDB

This week's funding scorecard focuses on some of the major supranational borrowers, some of which have just announced new funding programmes. Next Friday's scorecard will give take a look at the funding progress of several major European supranationals and agencies.

KfW and the African Development Bank both sold long 10 year Kangaroo debt on Wednesday, with the former opening a new line and the latter tapping its outstanding bond. KfW was able to reach a wider investor base than recent 10 year Kangas owing to its strong reputation in the market. Export Development Canada also took the opportunity to increase its five year Aussie dollar bond.

A quiet week for Kangaroo issuance is on the cards, with a Reserve Bank of Australia meeting on Tuesday leaving screens blank on Monday. Issuers are mulling opportunities at the long end, according to syndicate bankers, but reduced deal sizes at the close of last week suggest investors may be close to sated.

The African Development Bank (AfDB) is looking to round out its funding plans for the year with a new dollar benchmark — likely a five year note — and its debut Green bond, also in dollars, likely to be sold at the short end of the curve. The issuer is also keeping an eye out for opportunities in other currencies, particularly the Kangaroo market.

This week's funding scorecard focuses on some of the major supranational borrowers, some of which have just announced new funding programmes. Next Friday's scorecard will give take a look at the funding progress of a number of European supranationals and agencies.

The European Investment Bank was able to tap into Swedish demand for sustainable investment last week by selling a new krona denominated Climate Awareness Bond. Demand for Socially Responsible Investment (SRI) bonds is growing in Sweden and could provide an opportunity for SSAs willing to meet the pricing demands of the local investors.

Socially responsible investment (SRI) bonds are making a splash. The IFC, IFFIm, and the EIB have brought deals this year and the African Development Bank has plans to sell its inaugural international trade this year. Principally an SSA product, bankers in the market are split as to whether this is a genuine good thing or a whole heap of greenwash. A market this immature will have anomalies, but that should not stop its development.

The African Development Bank (AfDB) has announced that it plans to issue a Green Bond in the autumn. Meanwhile the EIB was putting the final touches on a €650m Climate Awareness Bond as SSA Markets went to press.

This week's funding scorecard focuses on some of the major supranational borrowers. Next week's scorecard will give an update on the funding progress of a number of CEE sovereigns.

Goldman Sachs and Standard Chartered were able to steer investors into another African Development Bank dollar bond on Thursday after they were forced to withdraw a tap of the borrowers 0.875% March 2018 global on Tuesday because the price of the outstanding paper meant that a tap would have fallen foul of US tax laws.

Beginning today with a round up of some of the biggest supranational issuers, SSA Markets will publish each Friday an update on how much funding SSA issuers have raised and how much they have left to find. Click on the borrower's name or it's logo to see more data.

Norway’s Kommunalbanken (KBN) will sell five year Kangaroo debt on Thursday, following deals in similar maturities from the African Development Bank (AfDB) and the Inter-American Development Bank (IADB) on Wednesday.