Inter-American Development Bank IADB

The Inter-American Development Bank took advantage of offshore interest in Kangaroo debt on Friday, tapping four year notes flat to its curve. The deal is the IADB’s first deal in the currency since it tapped 10 year debt in the first week of the year.

The African Development Bank (AfDB) will become the third supranational borrower this week to price a dollar benchmark trade proving that there is adequate appetite for rich paper from top quality borrowers despite the meager yields and tight spreads on offer.

The future looks set to be one of smaller but more frequent deals for supranational borrowers if Tuesday’s prints from the Inter-American and Asian Development Banks are anything to go by. Both borrowers opened books on new global format benchmarks in the morning with pricing expected later in the day. Meanwhile, Bank Nederlandse Gemeenten tested the notoriously tricky 10 year maturity following KfW’s success with a similar deal last week.

The Inter-American Development Bank (IADB) and the Asian Development Bank (ADB) are set to answer the burning question in the SSA dollar market on Tuesday as they attempt to find the price at which the apparently rampant appetite for SSA dollar paper extends to tightly priced supranational credits.

Several supranational borrowers are eyeing dollar issuance after a blockbuster start to the market this week, SSA Markets understands. Denmark’s KommuneKredit capped off a week of oversubscribed trades from Libor plus issuers when it sold its first ever five year.

The Inter-American Development Bank brought its third Kangaroo deal of the month on Tuesday. The IADB managed to combine punchy pricing with an increase on the target size of the deal due to a lack of supply of Australian dollar bonds in that part of the curve.

The Inter-American Investment Corporation (IIC) has mandated four banks for its debut offering which will be a dollar-denominated floating rate note.

The Inter-American Development Bank (IADB) pounced on recent healthy secondary Kangaroo market flows to print the first SSA benchmark in this format since August 8 on Tuesday ― a A$400m ($417.9m) 3.5% 2017 deal.

The Inter-American Development Bank (IADB) and Kommuninvest this week awoke a dormant Kangaroo market with taps of their 2022 lines.

A queue of SSA issuers is forming to take advantage of an under supplied dollar market with a flood of supply in September, according to bankers. Although tight spreads and low yields will make conditions tough for the very best credits in shorter dates, duration and cheaper names should be able to take advantage of a hungry investor base.

The Inter-American Development Bank (IADB) returned to the Kangaroo market on Wednesday, the only SSA to do so as the market’s recent pace of issuance begins to slow.

A lack shortage of supply in secondary is driving investors into private placement markets. Washington supranationals raised funds through innovative methods this week, including Uridashi and private placements in unfamiliar currencies.