KfW and Bpifrance smash open euro SSA market

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By Burhan Khadbai
17 Sep 2019

Fresh from the announcement of a new stimulus package by the European Central Bank last week, investors stormed into the euro public sector bond market on Tuesday, led by KfW and Bpifrance. The latter printed €1.25bn, equaling its biggest ever single issue. The strong momentum is set to continue with a string of mandates, including two supranationals for Wednesday.

KfW issued a September 2026 with a spread of mid-swaps minus 12bp, which offered a yield of minus 0.394%, led by Bank of America, Barclays and Deutsche Bank.

Following the mandate announcement on Monday, the leads opened the books on Tuesday morning with guidance of ...

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