ESM-EFSF

Greece's €1.5bn July 2017 from four weeks ago suffered a near 50bp widening versus Germany over the past week, as investors stormed into the eurozone core. But most safe haven assets like the World Bank's $1.75bn December 2016 from last week tightened against swaps and benchmarks.

This week's scorecard features updates on the borrowing programmes of selected European supranationals and agencies. Read on to find out which borrower is over 90% done for the year.

Banco Espírito Santo reported a €3.6bn loss this week, but the Portuguese soveriegn looks safe from contagion. Its $4.5bn October 2024 from four weeks ago has tightened versus swaps since pricing.

The European Financial Stability Facility attracted more demand than expected to a rare 30 year print on Tuesday, raising €4bn — completing its funding task for the fourth quarter.

The European Financial Stability Facility mandated banks on Monday to run a 30 year syndication. The deal will go towards filling the European bail-out borrower’s €4bn remaining funding requirement for the quarter.

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 Financial Stability Facility raised €4bn through an unusual 364 day syndication at the tight end of guidance on Wednesday, after the deal was almost twice covered.

The European Financial Stability Facility surprised market participants on Tuesday with its choice of maturity for its upcoming benchmark, opting to sell a deal that matures in just one year. While some bankers away from the deal were baffled by the decision, syndicate managers were vigorous in their defence of the issuer’s choice.

This week's scorecard focuses on Europe's major supranationals and agencies, with most of the borrowers well advanced in their funding programmes as issuance begins to slow down for the summer.

The European Financial Stability Facility has €9.5bn left to raise this year and could have raised the bulk of it by the end of July.

The European Stability Mechanism conducted its first auction of long-dated bonds on Tuesday, raising almost €1bn of 10 year paper in an operation that takes it over its €4bn funding target for the quarter.

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.