EIB

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.

The scores have been counted and the results are in. The BondMarker voters have delivered their verdict on last week's crop of benchmarks, including a scintillating pair of deals from supranationals. Two deals from French agencies met with drastically different levels of approval from the BondMarker voters, but both fared better than Land NRW.

Rating: Aaa/AAA/AAA

While the dollar market produced one of its strongest deals of the year on Wednesday, another deal enjoyed markedly less success on the day, indicating that investors’ tolerance for tight levels may be becoming stretched.

The European Investment Bank (EIB) and the German State of North Rhein-Westphalia (Land NRW) have picked banks for dollar benchmarks expected to hit the market on Wednesday.

Supranationals have delivered a spurt of niche currency medium term notes, returning to old favourites like South African rand as well as making use of demand for more exotic currencies, particularly in Latin America.

The European Investment Bank (EIB) has picked two banks to run the books for its eighth sterling trade of the year.