SSAs struggle for prominence in crowded market

21 Jan 2009

A veritable flood of SSA issuers have piled into the market to get deals away this week. SFEF is trying its luck in the dollar market for the first time, the European Investment Bank has re-opened the five year dollar sector and Finland has printed its first in the currency since 2004. Taking centre-stage in the euro market is the Hellenic Republic which, following its downgrade last week, printed Eu5.5bn five year at 260bp over mid-swaps. Cades, Bank Nederlandse Gemeenten, EIB and KfW are also in the market, all in the two year maturity, while Agence Francaise de Developpement is testing appetite at the longer end.

French agency SFEF is trying its luck in the dollar market for the very first time with a minimum $3bn three year to be priced at mid-swaps plus 35bp-40bp. The European Investment Bank has re-opened the five year dollar sector for the first time this year with a ...

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