SSA's take breather after weeks of heavy supply

May 20, 2009 12:00 AM

Swedish Export Credit took centre stage in an otherwise slow week in the SSA market, issuing its first public bond since September 2007. While the European Investment Bank took just two hours to increase its April 2014 benchmark by Eu2.75bn, SEK's Eu1.25bn five year took two days as investors took their time getting approvals in place for what is virtually a new credit. But its successful execution is expected to tempt other Scandi agencies into the market in the coming days.In dollars the only offerings are a $1bn five year from African Development Bank and a $1bn four year Eurodollar from KfW, to be priced this afternoon at mid-swaps plus 35bp. Read EuroWeek on Friday for full coverage.

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