Rentenbank and Inter-American Development Bank hit the market for small taps of existing dollar debt on Tuesday, dipping into the market before the US Federal Reserve cut rates for the first time since the financial crisis.
Rentenbank saw enough demand for a tap of its 2.375% January 2024s that it was able to increase the tap size from $300m to $500m at launch. The tap brings the existing deal up to $1.2bn.
““It’s Rentenbank’s first dollar deal of the year,” said a deal lead. “It