German Sovereign
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Österreichische Kontrollbank will complete its benchmark funding for the year with a no-grow $1bn five year. Meanwhile, Erste Abwicklungsanstalt has lined up its second dollar deal of the year in the three year part of the curve. -
Rentenbank is looking to issue one more benchmark before the end of 2018 with what would be the agency’s third of the year.
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Erste Group has arranged a Schuldschein via blockchain, through a platform it helped construct alongside Linux Foundation’s Hyperledger Fabric.
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A three times subscribed deal by KfW this week showed that there is plenty of green demand for issuers looking to print in the format in the remainder of the year, as a fellow German agency moved forward with plans to bring a trade.
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Investors were in defensive mode in the dollar market this week as they snapped up short dated trades and floating rate notes, with demand particularly heavy from central banks and official institutions. Bankers are hopeful that benchmark supply will return next week.
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KfW priced through its curve on Wednesday as it wrapped up its green bond programme for the year with a more than three times subscribed trade.
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The European Stability Mechanism priced its second ever dollar benchmark at a “fair” level of around 5bp over European Investment Bank’s September 2020, according to onlooking SSA bankers. Elsewhere in the dollar SSA market, Inter-American Development and NRW.Bank mandated banks for floating rate notes.
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Bank Nederlandse Gemeenten and KfW mandated banks on Tuesday for euro issues at opposite ends of the curve.
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