Arbitrage, demand fuel SSA dollar issuance
ARBITRAGE conditions continued in favour of European issuers this week, fuelling issuance not only from Germany (see separate story, page 4) but also Rentenbank, Société Financement de l’Economie Française (SFEF) and the Republic of Austria, which collectively raised $12.25bn. Export Development Canada (EDC) added another $1bn of supply and in the next couple of weeks, the market is expecting the Republic of Italy, OKB or Asfinag and the International Finance Corp to make appearances.
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