Dollars provide big SSA firsts but trouble stirs

By Mike Turner
18 Jul 2019

L-Bank issued its biggest single bond in dollars this week while the Inter-American Development Bank (IADB) printed its first ever dual tranche trade in the currency. But some market participants warned that the good times at the short end of the dollar curve might be coming to an end.

L-Bank printed a $2bn five year benchmark on Tuesday, with IADB placing a $1bn two year bond and a $1.5bn seven year deal and Land NRW raising its first fixed rate dollar deal since October 2017 on the same day. 

L-Bank’s $2bn five year trade was labelled “fantastic” by ...

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