SSAs shun euros for dollars and maple

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By Lewis McLellan
13 Aug 2020

The Inter-American Development Bank (IADB) broke the silence in the SSA market with a Canadian dollar sustainable development bond. The deal shared the market with a dollar trade from Kommuninvest, with both issuers steering clear of the almost dormant euro market.

“It’s a leap of faith coming in mid-August,” said a syndicate banker on one of the deals. “You get the window to yourself but there aren’t always as many people around. However, our sales team reassured us that the US, Lat Am and Asia were all decently active. ...

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