Caisse d Amortissement de la Dette Sociale

Hopes that ‘the party’ will go on in a market that has not always had open access of late — but Congress drama could shut it down

Cades prints $3bn while CEB lands flat to starting level

Competition for investor attention is fierce, with three year bonds also from JBIC and Opec Fund

Sovereigns take €7bn each while supranationals and agencies also keep euro buyers busy

More issuers have decided to do dollar funding ahead of another potentially large US rate increase

The French agency was last seen in the market just a month ago

Trio of transactions gives market confidence with more issuance expected

EIB and Cades reopen deals as Renten lines up new 10 year green bond

‘We decided to go for it. Obviously a lot of other people had the same idea’

A pair of sovereign borrowers hit the crowded euro bond market on Wednesday, pulling down a combined €7bn. Public sector issuance is showing no signs of slowing: Wednesday’s borrowers received huge orders.

Caisse d’Amortissement de la Dette Sociale (Cades), the agency responsible for financing and amortising French social debt, plans to raise almost twice as much as it did this year and more than 10 times what it had initially expected to raise in 2020 before the onset of the coronavirus pandemic.

French agency Cades and the International Development Association returned to the dollar market for the first time since the summer break on Tuesday to bring a pair of five year socially responsible deals.