EIB

The Asian Infrastructure Investment Bank and European Investment Bank have increased their 2020 borrowing authorisations. The former has upped their potential borrowing by half in response to the rapid take-up of its Covid-19 Crisis Recovery Facility.

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Caisse d’Amortissement de la Dette Sociale (Cades) and the International Development Association set new size records this week, with the former bringing the biggest ever social bond in dollars and the latter issuing its biggest ever bond since entering the capital markets in 2018.

French agency Cades and the International Development Association returned to the dollar market for the first time since the summer break on Tuesday to bring a pair of five year socially responsible deals.

French agency Cades will debut its social bond framework in dollars on Tuesday, less than a week after it raised the largest ever bond in the format with its inaugural issue in euros. It will share the market with the International Development Association (IDA), which is preparing to kick off its 2020/21 funding year with a sustainable development benchmark of its own.

The EIB kicked off the post-Labor Day SSA dollar market on Wednesday with a five year deal, it's third of the year. Oesterreichische Kontrollbank (OeKB) is set to follow, having mandated for its second five year dollar deal of the year.

The European Investment Bank hit screens with a five year dollar benchmark on Tuesday in what will be the latest in a series of European supranationals and agencies issuing bonds in this currency and maturity.

This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the beginning of September.

Two senior officials who have been central to the European Investment Bank’s transition to greener lending and rebranding as the EU’s ‘climate bank’ are leaving, prompting a reshuffle of the management committee.

The European Investment Bank gave the flagging volumes in the non-UK sterling SSA market a boost on Friday, bringing the first ever Sonia floating rate note linked to the Bank of England’s new compounded Sonia index.

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Public sector borrowers found themselves in a tricky position as they returned to the primary euro market this week as they attempted to strike a balance between current secondary levels and where the market is heading with the arrival of the European Union’s giant borrowing programme from September.