Inter-American Development Bank IADB
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Issuer will move to focus on euro and Kangaroo markets for rest of 2024, though another dollar deal is also on the cards
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Primary activity is set to ease into next week as Lunar New Year holidays take place
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IADB, DBJ and CPPIB all grabbed large order books
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The bank will update its SDB framework this year for the first time
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Supra to raise $19.5bn, subject to cash flow changes, versus $18.8bn in 2023
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Supranational takes $1.5bn from latest syndicated sale after peer success in recent weeks
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Pent-up demand for five year dollar bonds helped attract $2.2bn of orders
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The issuer has wrapped up its fixed rate dollar benchmark funding for 2023 but will continue to fund in other formats
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NIB lands tight pricing as IADB goes long
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Well known face in world of SSAs rejoins Washington supra
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Proposed new issue is a securitization of IDB Invest’s purchase of securities from electricity generation companies
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Borrowers push out maturities, printing bigger size across conventional and labelled deals
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Issuer has already been active in the currenty earlier in the year
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Deal grows to $3bn, with minimal new issue premium
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Political crisis could not stop Galapagos bond, with more countries likely to follow
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Deals keep coming in busy week for SSA primary market
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Wider spreads against swaps have allowed issuers to pay skinny concession to print large sizes
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IADB, KfW and the World Bank raised more than $10bn between them
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Deals planned for across the maturity curve
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Asia supra pushes out to 10 years as EIB brings first EARN
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KfW and BNG were out with euro issuance, while EIB opened books on a dollar bond and others added to sterling supply
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SSA issuers look to private placements to meet annual funding targets
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Issuer will monitor closely any opportunity to return to the currency
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Issuance resumes despite unsettling US jobs data
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Second sterling deal in a row for the borrower in as many months
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Investors say multilateral guarantee gives little comfort
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Both issuers needed to settle for static spreads that offered chunky concessions
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Analysts divided on potential impact on the country’s curve
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Former IFC officer for Latin America and Caribbean takes over treasury role at IDB Invest
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Dollar investors have money to spend as rate rises near
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Supra adds to list of issuers pricing versus Sofr mid-swaps but most borrowers stick to Libor
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The Inter-American Development Bank on Tuesday launched a new five year Kauri bond, with the deal set to be its biggest in New Zealand dollars since at least 2018.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid yields from the close of business on Tuesday, July 27. The source for secondary trading levels is ICE Data Services
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of busiess on Monday, July 19. The source for secondary trading levels is ICE Data Services
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Four public sector borrowers received strong receptions in the primary US dollar market this week, with a lack of supply in the currency over the last few weeks overriding volatility in US Treasuries.