Currencies

Ford Motor Credit Company mandated banks on Tuesday to lead a new Australian dollar deal, its first since 2016.

The State of North Rhine Westphalia (Land NRW) was the only public sector borrower to announce a euro benchmark transaction on Monday, as it appointed banks to lead new 10 and 20 year sustainability bonds.

All maturities are open for deals in the euro market, thanks to a widening in benchmark spreads over the past few weeks. SSA issuers are taking advantage of the conditions by issuing in a range of tenors.

KfW’s first €STR bond hit the market on Wednesday. Although the German agency managed a tighter price than EIB’s first note in the format, it was not able to drum up the same level of demand.

All maturities are open for deals in the euro market, thanks to a widening in benchmark spreads over the past few weeks. SSA issuers are taking advantage of the conditions by issuing in a range of tenors.

Two SSA borrowers have will follow KommuneKredit's lead by issuing green bonds on Wednesday after the Danish agency announced and priced a deal on Tuesday.

KfW has mandated banks for its first €STR transaction as it looks to become the third public sector borrower to sell a bond linked to the new euro risk-free rate.

Islamic Development Bank has spurred momentum in the green sukuk market, as it announced its debut, a euro deal, in the format this week.

China Minmetal’s wholly-owned subsidiary, Onfem Finance, has returned to the market for a HK$4bn ($511m) refinancing loan at tighter levels than its last syndication.

Two SSA borrowers are coming to the market for euro deals on Tuesday. The European Financial Stability Facility and Erste Abwicklungsanstalt will both print what are likely to be their final benchmarks of the year.

Two SSA borrowers tapped the seven year part of the euro curve this week, but came away with different results. Luxembourg received an oversubscribed book for its deal on Wednesday, while Nederlandse Waterschapsbank (NWB Bank) had to price without fully placing its €1bn trade.

Investors had three Ukrainian corporate bonds to buy this week — the first time there has ever been such a choice, according to Dealogic data. The deals defied a tricky market and political turbulence to pull off strong results.