EIB

Supranational issuers are lining up to tap the long end of the euro curve, with the European Investment Bank set to price an April 2032 benchmark and the European Financial Stability Facility printing a dual tranche deal.

Demand for supranational and agency paper in Turkish lira is proving strong despite political tensions in the area.

Export Development Canada is to print a long four year sterling bond as demand for paper in the currency defied fears of a possible UK's exit from the European Union.

The World Bank is set to print a five year dollar benchmark, as bankers expect issuers to focus on the short end this week.

A £1bn bond from the European Investment Bank last Friday should inspire other issuers to try their luck in the sterling market this week, said bankers.

Rating: Aaa/AAA/AAA

Dollar issuance is clustering at the short end of the curve as bankers fear the threat of a rate increase at the Federal Open Market Committee’s (FOMC) meeting on June 14-15.

The Asian Infrastructure and Investment Bank may follow other SSAs to the Kangaroo market.

SSA activity in the Kangaroo market is picking up after a move in the cross currency basis swap between Australian dollars and euros.

The European Bank for Reconstruction and Development printed a $500m floating rate note on Thursday in the week’s third deal in the format.

The European Investment Bank printed a three year dollar benchmark on Wednesday, joining other issuers this week in staying at the short end of the curve.

Uncertainty regarding the outcome of the US Federal Open Market Committee’s (FOMC) meeting in June drove public sector borrowers to target the short end of the dollar curve this week, said bankers.