SSA big guns steel themselves for jittery autumn

The biggest European supranational and agency issuers are looking to launch some of their final benchmark deals of the year into what could be stormy markets in September. The European Financial Stability Facility (EFSF), EIB and KfW have all decided to wait until after the summer break before resuming benchmark funding. They will be joined by a new borrower, the European Stabilisation Mechanism (ESM) — which some bankers reckon may not go for the obvious choice of inaugural deal.