European Bank for Reconstruction and Development EBRD
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More than $10bn issuance expected as AIIB and KfW announce deals
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Signs of indigestion in the market after record buying from investors
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EBRD and BNG are both met with unprecedented demand
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More issuers expected to print in US currency next week
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EBRD and EIB to seek funding for vehicle to seed projects to save endangered Mediterranean
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Renewed direct foreign investment to bring further frontier currency supply
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The framework is expected to be compliant with the Covered Bond Directive
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Development bank also exploring funding package for Ukraine
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Georgia has become the latest country to signal its intention to develop a covered bond law, though given the small size of its mortgage market, issuance prospects are likely to prove limited.
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The next 10 years will be tough for central and eastern Europe, economically and politically. Willingly or not, it will have to cut carbon emissions. States in the EU have agreed deep reductions by 2030. But exactly how, when and where the changes come remains to be thrashed out. None of it will be easy — and one of the most important tasks will be to retain the confidence of financial markets. Jon Hay reports.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the end of June.
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MAS Real Estate is the latest emerging markets issuer to have issued paper linked to environmental, social or governance factors. However, EM investors are demanding more ESG paper to match the levels seen in developed markets.
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CPPIB Capital made its debut in South African rand this week with an ‘old school MTN’ at the short end of the curve.
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A consortium of international lenders is funding the development of Egypt’s largest solar plant.
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The long-running debate in the European Union about how to optimise its development finance effort and strengthen its role in sub-Saharan Africa is tending towards the most basic of the possible options: closer collaboration between the European Investment Bank and the European Bank for Reconstruction and Development.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the end of March.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the start of February.
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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, January 25. The source for secondary trading levels is ICE Data Services.
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The European Bank for Reconstruction and Development led the way on a busy Thursday in the SSA dollar market, printing $2bn flat to its curve.
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CPPIB Capital hit screens on Wednesday for a 10 year benchmark, confident that there is demand at that tenor despite a recent rush of similar deals.
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Two supranationals are set to hit the market for their first dollar benchmarks of 2021 on Wednesday.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the end of November, with some issuers also setting their targets for 2021 and starting pre-funding.
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Banks were busy issuing sub-benchmark sized deals in the euro public market last week, prompting several issuers to follow suit in the MTN market.