PMM: Dollar return pushes SSA subscription levels lower

By Johan Lai
02 Mar 2021

A return to dollar funding by SSA borrowers capitalising on higher yields last week dragged the average subscription ratio lower.

SSA borrowers that printed in euros enjoyed an average subscription ratio of 4.6 times last week versus 4.8 times the week before. But with KfW and Asian Development Bank between them raising $7bn in two deals and Development Bank of Japan printing a $520m bond of its own, ...

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