KfW offers rare positive yield while ADB prints biggest green in euros

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By Burhan Khadbai
15 Oct 2019

Investors pounced on the opportunity to buy a bond with a positive yield in the euro market by KfW on Tuesday. Elsewhere, the Asian Development Bank drew strong demand to sell its biggest ever green bond in euros following its debut in 2018.

Following the mandate announcement on Monday for a euro September 2034 bond, leads Bank of America, Deutsche Bank and HSBC opened the books on Tuesday morning for KfW's deal with guidance of mid-swaps minus 10bp area for a €1bn no-grow.

As the order book reached ...

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