KfW and EIB open up SSA market

EIB 230x150
By Lewis McLellan
26 Mar 2020

The SSA primary bond market has had a fantastic week — something that seemed unlikely during the brutal ructions of last week. But concerted actions by central banks and governments caused a sharp rally this week and, with deals from the European Investment Bank and KfW to set the tone in euros, issuers got to work.

With little turnover in secondary markets, screen prices were no guide to trading levels. Without flows to guide them, issuers had little indication of what kind of premium investors would demand in these challenging times. “We need the EIB or KfW to reopen the market, and give ...

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