EIB

With a new climate awareness bond from the European Investment Bank and the announcements of green taps from EIB and Rentenbank, it was a busy week of sustainable bond issuance in the Australian dollar market.

A pair of public sector borrowers blew away the cobwebs in the sterling market on Wednesday, printing a combined £1.5bn.

The SSA market is off to a typically fast start, with four deals in the market and more expected. However, a newly aggressive tone from members of the European Central Bank governing council could rock the boat.

The European Investment Bank has hit screens to announce its first benchmark of 2018 — a £1bn sterling tap.

Three issuers have been active in the Australian dollar market so far this week, including two borrowers targeting deals in socially responsible formats.

Société Générale has arranged a €142.6m green loan for Brittany Ferries, to finance the company’s first ferry powered by liquefied natural gas.

The European Investment Bank proposed today to European finance ministers to set up a new subsidiary, open to new shareholders, other than the EIB's existing owners, the European Union member states.

Increased UK borrowing needs could take the shine off an opportunity for SSA borrowers to take advantage of a potential drop in issuance by the European Investment Bank as the UK leaves the European Union, said bankers.

The European Investment Bank has tapped its August 2026 Polish zloty line for Z500m ($138.7m), taking the total outstanding to Z2.5bn. The trade forms part of EIB’s strategy to increase funding in Polish zloty, in which the issuer has three lines approaching benchmark size amid a perceived structural shortage in the currency.

The European Investment Bank (EIB) tapped South African rand twice this week, amid rising yields in the currency. Elsewhere, the International Finance Corporation (IFC) and World Bank both sold three lots of offshore renminbi, and Nordic Investment Bank (NIB) returned to Hong Kong dollars.

This week's scorecard looks at the funding progress various supranationals have made in their programmes as the end of the year approaches.

The European Investment Bank tapped its 2021 bond on October 18, addressing a lack of Polish zloty bonds in the market.