Currencies

Mizuho Financial Group will be looking to time the sale of a new senior deal very carefully this week, with euro market conditions still proving challenging for issuers.

Agence Française de Développement announced on Thursday that it will be launching a new framework showing how its treasury activities promote the UN’s Sustainable Development Goals. It has also boosted its funding programme to allow it to meet its clients' additional needs caused by the coronavirus pandemic.

After a week without deals, the primary euro public sector bond market will see a return of activity next week with Bank Nederlandse Gemeenten and the State of North Rhine-Westphalia preparing to bring sustainable deals in the currency.

Africa Finance Corp, the pan-African development finance institution, printed its first green bond on Monday.

Spain’s expected bond syndication, thought to be coming this week, now appears unlikely, according to several SSA bankers.

The European Union has passed the penultimate hurdle delaying its €100bn Support to mitigate Unemployment Risk in an Emergency (SURE) programme, all but clearing the way for issuance to begin. But one country’s request for funds has not yet been granted.

Africa Finance Corp, the pan-African development finance institution, printed its first green bond on Monday – the first in Swiss francs from a CEEMEA supranational.

Spain, which is said to be readying a 10 year deal will have to contend with S&P's decision to change its ratings outlook for the country to negative on Friday. However, its secondary curve has not been badly affected.

A number of syndicated deals from German regions have failed to reach full subscription over the last few weeks. It is not clear whether they will respond by offering greater new issue premiums.

The World Bank visited the Maple market on Thursday to print the largest ever seven year Canadian dollar bond from a non-domestic issuer, raising C$750m ($569.8m) with a new sustainable development bond (SDB).

Beijing Enterprises Holdings took €500m from its maiden green bond on Thursday, helped by support from the bookrunners on the deal.

Guarantor: Federal Republic of Germany