SSAs cash in on dollar demand

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SSAs cash in on dollar demand

October 14, 2009 12:00 am

Huge demand for dollar SSA product has driven deals from KfW, Inter-American Development Bank, Asfinag and Nederlandse Waterschapsbank this week. The book for KfW’s five year is over $3bn and IADB’s three year is over $2.5bn — both will price later in the day at mid-swaps plus 7bp and less 10bp respectively. Asfinag and NWB priced $1.25bn and $1bn of three year issues yesterday at plus 15bp and plus 20bp. In euros, strong demand for 15 year assets encouraged the Republic of Finland to issue its first ever 15 year bond. The Eu3bn deal attracted over Eu6bn of demand from more than 160 investors despite pricing only 4bp back of Finland’s 2019 benchmark. Read EuroWeek on Friday for coverage of all the week’s transactions.

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