AfDB

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.

The International Finance Corporation could be back with another green benchmark as soon as July, SSA Markets understands.

The African Development Bank (AfDB) hopes to sell its first global green bond this year, SSA Markets can reveal. The supranational has been working on the issue internally since last year.

The African Development Bank (AfDB) is adding Taiwanese life insurance companies to its investor base this year as rising swap levels make callable zeros from top supranationals a more palatable option for buyers.