Supras widen niche horizons with MTNs

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By Lewis McLellan
05 Oct 2017

Supranationals have delivered a spurt of niche currency medium term notes, returning to old favourites like South African rand as well as making use of demand for more exotic currencies, particularly in Latin America.

“Yields in Brazil are low, having rallied substantially this year," said a head of local currency MTNs at a bank in London. "It was the main currency of choice in the region but, with yields down to around 7%-8%, there’s an opportunity for other currencies on the continent ...

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