EIB
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This week's funding scorecard looks at the progress various supranationals have made in their funding programmes. -
Supranationals are making the most of demand in Romanian lei, picking up short dated funding in the currency.
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Some supranationals want to see their efforts to print green bonds rewarded with tighter pricing, hoping to set a precedent that will spread through the market. But some worry that setting the pricing bar higher for green bonds than vanilla as a matter of course could deter investors. Lewis McLellan reports.
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A pair of supranationals helped bolster Hong Kong’s green bond ambitions with some SRI deals this week.
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The European Investment Bank (EIB) tapped a five year Mexican peso line on Monday, becoming the latest supranational to access the popular niche currency, in what is by far the strongest start to the year on record for supranational issuance in the currency.
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After several weeks of focusing on conventional bonds in core currencies, SSAs popped back into the socially responsible investments (SRI) market this week. Nederlandse Waterschapsbank (NWB) is laying the ground for an affordable housing bond in euros, while the European Investment Bank found a solid reception for a Climate Awareness Bond that came in rare seven year dollar form.
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The European Investment Bank is set to plug a gap in its dollar Climate Awareness Bond curve after mandating banks on Tuesday for a June 2025 trade, opting for a rare seven year dollar bond.
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The European Investment Bank is preparing a new product: Sustainability Bonds, which will complement its Climate Awareness Bonds.
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Sterling seemed to be the only game in town this week. Two SSA issuers printed in the currency on Wednesday, taking advantage of a favourable basis swap.
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As negotiations over the future of Italy’s government begin in earnest, investors appear to be betting that political risk for the country has been overestimated.
