Inter-American Development Bank IADB

This week's scorecard looks at the funding progress various supranationals have made in their programmes as the end of the year approaches.

Latin America is one of the most promising fields, both for green economic investment, and for green financing. Powerful players in the region’s capital markets, such as national development banks, are supportive, and the range of issuers is spreading, from renewable energy into sectors such as paper, airports and banks. As Oliver West reports, there is good demand from international investors, but what could help even more is to build up the local market.

This week's scorecard looks at the progress supranationals have made in their funding programmes this year.

Last week brought a slew of high quality deals, despite the ECB meeting on September 7 causing some issuers to hold off. Those that went ahead have been scored by the BondMarker voters. Read on to see how they did.

World Bank raised A$850m ($678.7m) in the Kangaroo market this week by printing a new September 2022 line, the largest Australian dollar SSA bond in the last three years.

A lack of five year dollar supply and an acceptance that since the summer issuers need to offer a bit more juice helped a pair of supranationals launch strong trades this week. Other supras are rumoured to be considering follow-on deals next week, although some bankers warn that investor appetite may be sated for the moment, and everything could hinge on how a sharp US Treasury move late on Thursday plays out.

Rating: Aaa/AAA/AAA

Inter-American Development Bank won a big reception on Thursday as it completed its benchmark funding for the year with a five year dollar global that rode on the coattails of a similar trade by Asian Development Bank a day earlier. Agence Française de Développement also made a triumphant return to dollars after a pulled trade in February, as it matched its largest ever deal in the currency for size.

Inter-American Development Bank will on Thursday attempt a five year dollar benchmark, copying a Wednesday deal from Asian Development Bank that bankers on the trade said was the best dollar deal since the summer. Agence Française de Développement is also out with a dollar benchmark — its first since a pulled trade in February.

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.

Benchmarks from the Inter-American Development Bank, KfW and Spain have now been scored in GC BondMarker. While two of the deals met with a warm reception from voters, one deal was not so popular.

The Inter-American Development Bank (IADB) raised A$100m ($76.1m) on Tuesday by tapping its June 2026 Australian dollar bonds. It was joined later in the week by Nederlandse Waterschapsbank (NWB), the International Finance Corporation (IFC) and the European Investment Bank, which launched a tap that is expected to be priced on Friday.