EIB

The European Investment Bank is set to sell its first new Kangaroo bond in more than a year on Thursday, opting for a long five year note.

Read this week's funding scorecard to see which European supranationals and agencies are nearly done for the year, and which have already begun prefunding.

The European Investment Bank revisited the Czech koruna market for the first time since 2011 on Tuesday, raising Ck500m ($26.8m) with a December 2023 floating rate note.

Network Rail is set to add to a spate of dollar issuance this week, mandating banks for a benchmark on Wednesday morning. It will follow KfW and the European Investment Bank, which announced mandates just after lower than expected US non-farm payroll numbers were released on Tuesday afternoon.

KfW and the European Investment Bank are set to end a drought of dollar benchmark issuance on Wednesday. KfW hired banks on Tuesday for a three year benchmark in the currency, while EIB has opted for a longer five year deal.

Read this week's funding scorecard to see which European supranationals and agencies are nearly done for the year, and which have room for another benchmark.

The European Investment Bank (EIB) and Oesterreichische Kontrollbank (OeKB) both took to the Swiss franc market on Monday, capitalising on Swiss investors’ appetite for high quality paper to sell tightly priced taps.

The EIB priced a long-dated EARN on Tuesday afternoon, its longest dated new issue in the format since 2010. The long tenor enabled the issuer to hit the 3% yield bogey that gets German insurance companies hot under the collar, but volatility around the euro swap rate meant that the borrower had to pay a decent new issue premium to be sure it could get the required size away.

The EIB has hired four banks to run a syndication of an October 2033 EARN in a week which looks set to be dominated by dollar supply — three other borrowers having hired for dollar deals by Monday afternoon.

Plenty of SSA issuers took a big bite out of their funding targets in the short window of issuance between the end of the summer and this week's FOMC meeting. Here we provide updated figures on selected European supranationals and agencies.

The European Investment Bank sold a tap of a 10 year EARN on Tuesday, with the increase falling slightly short of full subscription as investors proved reluctant to commit large amounts of cash to the deal. The City State of Berlin also came to market, opting for eight year debt.

The European Investment Bank tapped its 1.375% November 2019 Climate Awareness Bonds for €250m on Monday, taking the amount outstanding to €900m. The tap was driven by reverse enquiry from socially responsible investors in Europe.