NDB and Kommuninvest out in short end as long dollar demand fades

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By Burhan Khadbai
15 Jun 2020

The New Development Bank and Kommuninvest began marketing new dollar benchmarks in the short end of the curve on Monday, with the former set to issue its long-awaited debut deal in the currency to support its member countries from the coronavirus pandemic.

Leads Citi, Crédit Agricole, Goldman Sachs, HSBC and JP Morgan were taking indications of interest with initial price thoughts of mid-swaps plus 40bp-45bp area for NDB’s Reg S June 2023 dollar benchmark.

The banks were originally mandated on May 26 to arrange ...

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