Inter-American Development Bank IADB

Finland priced an oversubscribed five year dollar global on Wednesday, printing at the tight end of initial price thoughts and at the upper end of its size target. The Inter-American Development Bank, meanwhile, sold a $3.25bn two year inside initial price thoughts.

The Inter-American Development Bank hired banks on Tuesday to run an unusual two year dollar global, while Finland announced its second five year benchmark in a week, this time in dollars, and looks set to manage the rare feat of pricing a dollar benchmark in that maturity through swaps.

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.

This week's scorecard features updates on the funding programmes of some of the major supranational borrowers, as AfDB, EBRD and IADB all head past the three-quarter mark for their funding targets.

KfW and the Inter-American Development Bank highlighted demand at the far end of the Kangaroo curve on Tuesday. IADB was able to price a tap of 10 year notes during the Australian day, while the German development bank has drawn strong early orders for a new long 10 year of its own.

The Inter-American Development Bank plans to print at least one more dollar benchmark in 2014 as it looks set to finish at the top end of its funding target for the year — and is also open to prefunding opportunities. The projection is at odds with its counterparts in Europe, several which have reduced funding targets over the course of 2014 and could lower them further thanks to the latest effort from the European Central Bank to inject pace into the sluggish eurozone economy.

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.

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.

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.

This week's scorecard features updates on the funding programmes of some of the major supranational borrowers. Read on to see which issuer is almost 40% done already, having begun a new funding programme on July 1.

The Inter-American Development Bank is set to take to the Kangaroo market on Thursday to sell a long five year deal. The investor response so far has been strong enough to allow the possibility for the deal to grow beyond the minimum size, despite the extended maturity leaving some buyers on the side lines.

Bank Nederlandse Gemeenten appealed to American and Asian investors with a dollar benchmark at the short end on Wednesday. Despite offering initial price thoughts flat to its secondary curve the issuer was able to attract enough interest from these investors to cover its maximum deal size before official bookbuilding began.