KfW and Paris score in quiet euro SSA market ahead of EU’s arrival

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By Burhan Khadbai
13 Oct 2020

KfW and Ville de Paris grabbed the attention of investors at the opposite ends of the euro curve on Tuesday in what has been a thin week for issuance in the currency by public sector borrowers ahead of the expected arrival of the EU’s first syndicated bond under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme next week.

KfW raised €3bn with a December 2027 benchmark at mid-swaps minus 11bp, 2bp inside of guidance, with a final book of over €11.9bn. BNP Paribas, Crédit Agricole, Goldman Sachs and JP Morgan were the leads.

The German agency was joined in the euro ...

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