EIB

GlobalCapital announced the winners of its Sustainable and Responsible Capital Markets Awards 2018 in Amsterdam on Tuesday evening. This year’s two sovereign debut green finance issues, from Indonesia and Belgium, won Deals of the Year in their regions, and there were double laurels for Danone, in both the bond and loan markets.

The dollar market for public sector borrowers is set to welcome the return of one of its biggest issuers, as deal flow restarted after Monday’s US Labor Day holiday.

There is little demand for another public sector issue referenced to Sonia, the preferred alternative to sterling Libor, in the wake of the European Investment Bank's successful deal in June, a senior SSA portfolio manager said this week.

The European Investment Bank (EIB) has rebuffed claims it could be forced to reduce its funding levels if it moves under European Central Bank (ECB) supervision.

The European Investment Bank has reportedly agreed to discussions which could lead to it falling under the supervisory eye of the European Central Bank, following pressure from several European Union members. But this seems more like a political refusal to give something for nothing than a move likely to improve how the supranational operates.

The European Investment Bank may have to reduce its annual funding programme under potential leverage restrictions by the European Central Bank following Brexit, according to bankers.

SSA issuance in Canadian dollars is enjoying a renaissance, with a pair of deals this week taking July to a record monthly volume and a tenor last seen several years ago returning.

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The Canadian dollar market could see a resurgence in SSA issuance, said bankers, after the European Investment Bank printed a deal in a rare tenor for the currency this week.

The increasing demand for bonds compatible with the Paris Agreement on climate change is one of the major factors driving the European Investment Bank’s plan to add Sustainability Awareness Bonds (SABs) to its funding mix, according to the issuer.

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

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