EIB

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

The European Investment Bank tapped five year Canadian dollar bonds on Friday, benefiting from unexpectedly strong demand to more than double the size of the outstanding debt.

The European Investment Bank will sell its second Canadian dollar deal of the year on Friday, a tap of five year bonds. The issue is likely to benefit from strong demand from central banks as they look to up their holdings of debt denominated in the currency.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

The European Investment Bank will sell Kangaroo debt on Wednesday, drawing healthy investor demand for a new four year deal. Issuers are keen to tap the Kangaroo market this week, avoiding clashes with upcoming holidays.

Municipality Finance mandated banks to run a five year dollar deal on Tuesday afternoon, starting the pricing process 6bp back of where the European Investment Bank raised $5bn of 2019 paper this week.

The European Investment Bank and Tokyo Metropolitan Government were first out of the gates with dollar benchmark mandates on Monday, in what is expected to be a busy week in the currency.

This week SSA Markets provides funding updates on key European supranationals and agencies. Click here to find out which issuers have completed over half of their 2014 funding requirements.

Rentenbank sold more than double its minimum target with a long dated Kauri deal on Thursday, highlighting diverse demand for bonds denominated in the currency. The European Investment Bank and KfW also seized on investor demand for long dated paper, selling 10 year Kangaroo taps.

Germany’s Joint Laender and the European Investment Bank tapped the 10 year part of the curve in euros on Thursday. The Laender came with a new issue benchmark that failed to get over the line and the EIB a tap that brought its January 2024 line to €4bn.

The Province of Ontario hired banks for a new 10 year dollar benchmark on Thursday afternoon, the second Canadian issuer to pick the maturity this week. The Friday execution will allow the issuer to hit the market before an expected spate of issuance next week.

The European Stability Mechanism is expected to take centre stage in the new issue markets next week as holidays in Europe and Asia make for a small window. The European bail-out borrower is tipped to mandate for a 10 year deal — although three and five years are also options.