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.
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The European Bank for Reconstruction and Development landed $1.5bn of five year paper on Wednesday — $500m more than it was originally targeting, thanks to stronger than anticipated demand.
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A number of MTN investors are waiting for the result of the US election before committing themselves to the market, meaning next week is set to be a quiet one.
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Focus was on the public market this week, with supranationals making up the majority of MTN supply.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes in mid-October.
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The European Bank for Reconstruction and Development ventured out to raise its largest ever bond linked to the secured overnight financing rate (Sofr) this week in what otherwise a thin week for issuance in dollars.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the beginning of September.
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Each week, Keeping Tabs brings you the very best of what we have found most useful, interesting and informative from around the web. This week: what’s next for the US after its war on Huawei, the impact that more robots would have on the gender pay gap, and a look on the bright side of Europe’s mishmash of state guarantee schemes.
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Ukraine's access to both IMF funding and debt markets was at "high risk" as concerns arose over the candidates to be the next governor its central bank. The IMF warned president Volodymyr Zelensky on Tuesday of the importance of maintaining the National Bank of Ukraine's independence, which some say highlights how critical the choice of governorship will be.
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The European Bank for Reconstruction and Development is launching the second phase of its Green Economy Transition approach and hopes to help policymakers make the recovery from the coronavirus pandemic a green one. But critics say its plans are little more than “business as usual” and that even the activities it classes as green sometimes have weak environmental credentials.
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The European Bank for Reconstruction and Development’s board of directors has approved a proposal to accelerate its transition towards being a green bank, including devoting over 50% of its investments to the green economy by 2025. But it has deferred a decision on when the rest of its activities will be aligned with the Paris Agreement.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the start of July.