EIB and Quebec open the floodgates for dollar SSA market

By Burhan Khadbai
04 Feb 2020

The European Investment Bank and the Province of Quebec were well subscribed as they re-opened the dollar SSA market following the extended Lunar New Year holiday. Two more public sector borrowers will follow with dollar bonds on Wednesday, ahead of what is expected to be a busy month in the currency.

EIB sold a $3bn no-grow May 2023 bond at a spread of mid-swaps plus 6bp, 2bp tighter than guidance, via HSBC, Morgan Stanley and RBC Capital Markets. The books were last heard at over $7.75bn, excluding lead manager interest.

A head of SSA syndicate away ...

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