Currencies

The Nordic Investment Bank raised NZ$400m ($260.9m) with its return to the Kauri market on Tuesday, as it prepares to wind down its funding ahead of the summer break.

Pharmaceutical company Ferring is preparing to launch its first public bond, having mandated banks on Monday to lead investor calls ahead of a potential Swiss franc trade.

The Région Ile-de-France printed a dual tranche green and sustainability bond on Monday, raising a combined €800m with 10 and 20 year notes, as the green debt market returns to prominence

Kommunalbanken snagged NZ$500m ($324.5m) on Friday with the second largest Kauri bond of the year. Interest in the New Zealand dollar is high, with NZ$1.1bn worth of SSA Kauri deals printed so far this month — and more are set to follow.

NRW.Bank has mandated banks to arrange a series of virtual fixed income meetings as it looks to present its new social bond framework to investors ahead of a debut deal in the format.

Hyundai pulled into the Swiss franc bond market this week with a three-year green deal that was priced with a substantial new issue premium (NIP). Elsewhere, nuclear energy provider AKEB sold one of the highest yielding bonds of recent weeks.

The International Development Association (IDA) has tapped the Swedish krona market for the first time as it prepares to increase its funding programme for the 2020-21 fiscal year.

Canvest Environmental Protection Group Co, a Hong Kong-based waste-to-energy company, has returned to the loan market for a HK$1.97bn ($251.6m) unsecured deal. In an unusual move, the firm will postpone its covenant tests for the first six months. Pan Yue reports.

The Dutch State Treasury Agency has announced that it will reopen its inaugural green bond via auction next Tuesday as it looks to bring the trade closer to a benchmark size.

The European Investment Bank and the State of Brandenburg have mandated banks to bring euro deals on Thursday, in what has been an extremely thin week for supply with issuers well funded and some weakness in secondaries.

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, June 15. The source for secondary trading levels is ICE Data Services.

New Zealand attracted record demand for its largest ever bond as it tapped the market with a four year syndication on Tuesday. With the government facing an elevated funding programme in 2020-21 to combat the effect of the coronavirus pandemic, there is a feeling that record-breaking deal sizes will become more common a spectacle.