EIB and IFC play to seven year dollar demand

Seven years is the maturity of choice in the dollar market this week as central banks put on curve extensions to pick up yield. EIB and IFC have targeted the tenor this week — EIB with $1.5bn priced at mid-swaps plus 2bp and IFC with $2bn at mid-swaps flat. The IFC deal marks the first time the institution has issued a second global in a year and its first outside the seven year maturity. Read EuroWeek on Friday for coverage of both transactions — and to see if anything is left in the SSA pipeline.