Nimble SSA issuers jump through window
A couple of days of stability and a back-up in rates allowed a handful of SSA issuers to dive into the public bond markets. IADB’s successful $2.25bn five year global last Friday gave confidence to BNG to issue a $1bn five year this week, the first non-German European agency to test appetite for European names. In euros, the story is at the longer end with OeBB Infrastruktur issuing a Eu1.25bn 15 year and Cades a Eu2.25bn 10 year. The Republic of Italy is in the market with a five year syndicated floating rate nominal bond (CCTeu).
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