EIB

On Tuesday, the European Investment Bank took a near-identical approach to KfW on Monday, as it tapped a bond at the short end in sterling, and found similarly strong levels of demand, allowing it to issue £150m more than its planned minimum target.

A trio of SSAs made the most of low yields in Danish kroner and Swedish kronor to print paper with coupons hovering around zero this week.

SSA issuers are increasingly looking towards the Norwegian krone market as a hawkish Norges Bank, against the tide, raises rates. The European Investment Bank in particular has sharply increased its Nokkie issuance this year.

This week’s funding scorecard looks at the progress supranationals have made in their funding programmes as we hit the middle of June.

Three SSA borrowers issued a total of £200m ($255m) of medium-term notes in response to an inquiry for three year non-call one fixed rate sterling bonds on Tuesday — which probably all sold to the same buyer — amid an uptick of paper in the currency.

The European Investment Bank printed a €3bn 10 year trade on Thursday, dragging the pricing in by 2bp during execution.

The European Investment Bank printed a $1bn three year floating rate note linked to the secured overnight financing rate (Sofr) with a coupon structure that mirrors Sonia this week, as the market still tries to find a standard method for the dollar Libor replacement.

European Investment Bank is out with a $1bn three year floating rate note linked to the secured overnight financing rate (Sofr) with a novel coupon structure, though bankers off the deal say it looks cheap.

The European Investment Bank has found a new head of funding within its ranks to take charge of the public markets team, succeeding Carlos Ferreira da Silva, who intends to enter semi-retirement later this year after 28 years at the bank.

A quartet of public sector borrowers placed paper in the Australian dollar market this week. Two European SSAs priced sustainable and climate awareness bonds: the European Investment Bank priced its third climate awareness Kangaroo on Tuesday, while Bank Nederlandse Gemeenten brought its sustainability bond programme back to the Aussie market on Wednesday. Meanwhile, a pair of agencies raised funding in Australian dollars on Thursday: Export Development Canada and Eurofima both tapped Kangaroos.

A pair of European SSAs priced sustainable and climate awareness Kangaroo bonds this week. The European Investment Bank priced its third climate awareness Kangaroo on Tuesday, while Bank Nederlandse Gemeenten brought it sustainability bond programme back to the Aussie market on Wednesday.

The European Investment Bank's board of governors has approved a pro rata capital increase from European Union member states in preparation for the UK's exit from the EU, which will result in it losing membership of the EIB.