European Bank for Reconstruction and Development EBRD

The European Bank for Reconstruction & Development and Spain’s Instituto de Crédito Oficial gave SSA bankers cause for pause this week, producing a pair of deals that, while they were not exactly unsuccessful, had book builds that were a far cry from the rolling around in piles of money exercise that the bulk of supranational and agency syndications have been partaking of so far this year. But rather than being a sign of the SSA rally running out of steam, these deals are an important sign of market robustness.

The EBRD launched its first public rouble deal for two years on Wednesday to a strong response from investors. The deal has grown beyond the targets initially set and is expected to be more than twice subscribed.

The European Bank for Reconstruction & Development (EBRD) opened a long-awaited dollar trade on Monday afternoon, following a rise in Treasury yields late last week. However the book build on the seven year deal was slow, which bankers attributed to investors expecting yields to back up further.

The European Bank for Reconstruction and Development has mandated Raiffeisen Bank International to bring its first public trade in roubles in almost two years.

The African Development Bank (AfDB) is expected to price a tap of a five year dollar deals on Thursday afternoon. The agency is looking to price at a level similar to EBRD’s dollar tap earlier this week, but in twice the size.

Supranational credits could once again start pricing through Treasuries, a trend not seen since the 1980s, a leading issuer has told SSA Markets.

The European Bank for Reconstruction and Development (EBRD) moved a step closer to completing its 2012 funding with a dollar benchmark tap on Monday.

The European Bank for Reconstruction and Development will shun benchmarks for private placements and Uridashi over the rest of the year — unless it sees an increase in its loans business.

The European Bank for Reconstruction and Development (EBRD) proved on Thursday that now credit quality trumps all other concerns in the minds of many SSA investors. It priced a sub-Libor five year global while investors had been looking for longer tenors in a bid to boost returns.

The European Financial Stability Facility (EFSF) held talks with several commercial banks about setting up repo lines, on August 3. Bankers expect the request is the EFSF’s preparation for secondary market intervention.

World Bank printed its largest Polish zloty-denominated deal in a decade late last week, helping the issuer to race out the blocks at the start of its funding year.

International Finance Corporation (IFC) is expected to announce a five year dollar benchmark on Tuesday afternoon with Citi, HSBC and JP Morgan as leads.