The World Bank placed its first Hong Kong dollar deal of its 2019/2020 funding year last week. The supranational chose to link the private placement to the Hibor benchmark, a now little seen structure that was likely the result of a "very specific enquiry", according to one MTN banker away from the deal.
While it has been a regular issuer of fixed rate Hong Kong dollar debt, the World Bank last issued a Hibor linked note in June 2009, according to Dealogic.
Since anti-extradition bill protests begun in March, issuers have capitalised on the unrest to place Hong Kong dollar paper. Earlier