Currencies

The New Zealand Debt Management Office has announced the tenors for the first syndications of its 2020-21 fiscal year, following on from last week’s record-breaking deal.

The second slice of the ThyssenKrupp Elevator financing hit the market on Wednesday, with €4bn of bonds announced across secured and unsecured tranches in dollars and euros, joining the €3bn of loans earlier this week as part of the package to fund Europe’s largest LBO in a decade.

Agence Française de Développement printed a €1bn tap on Tuesday, while Fondo de Amortisacion del Deficit Electrico (FADE) landed €1.2bn at five years.

Austria mandated banks on Tuesday to lead its second century bond, in what will be a litmus test for investor appetite in the ultra-long end of the curve since the outbreak of the Covid-19 crisis.

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.