EIB

SSA names were in high demand on Thursday as FMS Wertmanagement and the EIB tapped existing lines to satisfy rampant investor demand. The deals followed Wednesday’s seven year dollar blowout from KfW.

The European Investment Bank (EIB) finally jumped into the Kangaroo market this week with a much awaited 10 year new issue. Kommuninvest also dipped into the popular 10 year part of the Kangaroo curve on Wednesday.

The Inter-American Development Bank (IADB) sustained the flurry of SSA Kangaroo supply of the last month when it priced a A$200m ($211.3m) tap of its 2022s on Friday last week.

The European Financial Stability Facility (EFSF) held talks with several commercial banks about setting up repo lines, on August 3. Bankers expect the request is the EFSF’s preparation for secondary market intervention.

Nordic Investment Bank (NIB) priced a Nkr1bn ($.13bn) five year on Tuesday. However, SSA issuance in the currency has depleted this year as investor have chased yields moving from supranational to corporate issuers.

European Investment Bank tapped its August 2024s for the second time this month on Wednesday. In its second outing it was able to shave 2bp off the first tap’s pricing.

SSA Markets understands KfW is looking to issue a new five year Kangaroo line as soon as Tuesday, and that Export Development Canada (EDC) is also monitoring the market. The African Development Bank (AfDB) capitalised on the positive market tone on Monday to tap its 5.25% 2022s.

The European Investment Bank (EIB) exploited the bid for five year paper on Friday, June 20 with a tap of its own 2017bond.

Strong bank treasury and official institutional demand allowed the European Investment Bank to print a £1bn tap on Friday. It is the latest in a series of blockbuster trades in sterling this week.

The European Investment Bank (EIB) tapped a seven year Swedish krona green bond and a six year Norwegian krona bond on Wednesday. The Swedish krona trade was particularly well received and the issuer is looking to tap the bond further at the end of the summer holidays.

Two chunky redemptions from the International Finance Corp (IFC) and the European Investment Bank (EIB) might bring the pair back into the Kauri market soon. Although the IFC is likely to be well bid a by the market’s conservative investor base, the EIB may struggle to refinance its deal directly at an acceptable price.

The European Investment Bank (EIB) took advantage of strong demand for triple-A rated names offering some yield in dollars to launch a 2017 note on Thursday. It was heavily oversubscribed and the size was increased from initial expectations.