EIB

The European Investment Bank is widely expected to hit screens with a five year dollar bond this week but, with the US market sidelined for the Labor Day holiday, the SSA market will have to wait for the supranational’s mandate.

Rating: Aaa/AAA/AAA

SSAs enjoyed soaring conditions in the sterling market this week after a summer lull, which bankers attributed to a big Gilt redemption and sterling’s weakening against other main currencies.

Brexit talks about Britain’s place in the European Investment Bank (EIB) failed to move forward this week, and called into question the status of many UK loan applications that remain on hold.

One of the sterling SSA market’s biggest names stormed back into the market after being conspicuously absent since January. European Investment Bank managed to pull its spread in by 2bp in its return to the market on Thursday.

Two of Europe’s biggest issuers are relaunching the sterling market in the wake of the summer lull this week — including one that more than doubled its initial target.

Developing a Lingua Franca for Green Bonds

Alexander Stubb, a former prime minister of Finland, has been appointed vice president of the European Investment Bank.

International Finance Corporation introduced the Kauri market to green bonds on Thursday, after opening books on a socially responsible New Zealand dollar note with a NZ$100m ($75.2m) minimum size.

European Investment Bank launched a lengthy climate awareness bond in Kangaroo format on Monday, as appetite grows for green issuance in the Australian dollar bond market.

The European Investment Bank (EIB) and other market actors are working on a system to match investors’ views on what is a ‘green’ bond with suitable deals in the market.

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