Inter-American Development Bank IADB
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Supranational will seek $3bn or more when it returns, with the short end and belly in focus -
Lender enters “very exciting phase” as capital grows and it enjoys two triple-A ratings
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◆ New green seven year prices 2bp inside guidance ◆ Peer comps helpful as old 2032s trade wide ◆ Recent S&P upgrade to boost bank treasury demand
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◆ A longer maturity to stand apart ◆ Treasury diversificaiton bid ◆ Structured note investors
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◆ Wider optically, tighter underneath ◆ High quality from outset ◆ Pragmaticism on last basis point
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◆ High quality order book ◆ Limited fast money ◆ Spread to other MDBs narrows
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Investors and techniques are ready for development banks to scale up securitization rapidly
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Five more MDBs receive scholars’ opinion saying international law requires high climate standards
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◆ First sterling bond will not be issuer’s last ◆ ‘Element of price discovery’ for inaugural trade ◆ Accessing new markets key to funding bigger needs, says issuer
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◆ IADB completes 28% of 2026 funding in two weeks ◆ Curve steepness fuelling 10 year bid ◆ IFC explores Treasury tights with three year social
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◆ Cades and IADB both print July 2031 lines ◆ Secondary performance shows investor appetite ◆ Order books lower than earlier this week
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Issuer prices record dollar deal while also working on series of Amazonia bonds; first issuance could come this year
