IFC
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Supra gets ahead of crowds to take advantage of 'constructive buying' amid rates optimism
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Labelled bonds could address dire need to create safe, productive water systems
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The supra scores sell-side origination and execution expert
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Uptick in demand as Asian investors lured back to currency
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Borrowers push out maturities, printing bigger size across conventional and labelled deals
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Issuer prices at 'tighter end of range' as it gets new funding task underway
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The issuer has sold about $2bn in green and social bonds in its fiscal year so far
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Original £500m deal was was relaunched after orders came in late
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Sofr FRN, Canadian dollar benchmark, and green or social bonds are on the table in the issuer's new financial year
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The deal was launched as inflation concern pushed Gilt yields higher
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New investment vehicle will look to raise $2bn
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Supra to target US-based investors with extremely short tenor
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Georgia has become the latest country to signal its intention to develop a covered bond law, though given the small size of its mortgage market, issuance prospects are likely to prove limited.
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Canada’s federal pensions manager, Public Sector Pension Investments, made its debut on the international bond market on Tuesday — and will soon be back for more. It was joined in the market by International Finance Corporation’s first ever bond linked to the Secured Overnight Financing Rate (Sofr).
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The Federal Reserve made a hawkish lurch at its meeting last week and the consequences are still rippling through rates markets with just two SSA borrowers attempting deals in what could prove volatile markets.
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International Finance Corp has bolstered its annual questionnaire to underwriters, which formally integrates environmental, social and governance considerations into the selection of its bookrunners.
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CPPIB Capital made its debut in South African rand this week with an ‘old school MTN’ at the short end of the curve.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the end of March.
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The Asian Development Bank has sold its first ever education bond. The proceeds will go towards financing technical and vocational training for educators in the Asia Pacific region.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the start of February.
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The World Bank’s IFC has provided a $200m loan to Nedbank, which is part of a broader attempt to help South African banks grow their green finance operations.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the end of November, with some issuers also setting their targets for 2021 and starting pre-funding.
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The Asian Development Bank made its first foray into the Pakistani rupee market this week, tapping a growing appetite for frontier currency-linked paper.
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The International Finance Corporation became the latest supranational borrower to hit the Kangaroo bond market on Friday, coming after the World Bank’s monstrous deal earlier in the week.
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Issuers are winding down their funding programmes before the end of the year and several smaller SSAs have turned to MTNs to complete the little they have left to do. The big deals of the week, however, came from corporates, with Volkswagen and Eurogrid coming in at opposite ends of the curve.
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Thai hospitality firm Asset World Corp and Hong Kong’s China Everbright Environment Group both tapped the green loan market this week.
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Focus was on the public market this week, with supranationals making up the majority of MTN supply.
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The International Finance Corporation made a strong return to the sterling market on Tuesday by printing its biggest ever bond in the currency with a negative new issue concession, as issuance heats up thanks to an improvement in the cross currency basis swap for dollar and euro borrowers.
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The International Finance Corporation has named two of its senior funding officers to lead the supranational’s borrowing operations in Europe and Asia.
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International Finance Corp sold the first Kauri bond in more than two months on Thursday, while in the Kangaroo market a pair of European agencies tapped a pocket of demand further down the curve.
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The International Finance Corporation has mandated banks to lead a 10 year dollar bond in what will be the fourth public sector borrower to sell a bond in this part of the curve this week.
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The International Finance Corporation sold the first SSA Kangaroo deal in over three weeks on Thursday, returning to the market with a A$100m ($71.9m) 11 year bond.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the start of July.
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The International Finance Corp has announced its funding programme for its 2020-21 fiscal year.
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Kommunalbanken snagged NZ$500m ($324.5m) on Friday with the second largest Kauri bond of the year. Interest in the New Zealand dollar is high, with NZ$1.1bn worth of SSA Kauri deals printed so far this month — and more are set to follow.
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Sovereign, supranational and agency bond issuers are mobilising their resources to support the fight against Covid-19. The below table details the bonds they have issued, specifically in response to the coronavirus pandemic.
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Finland’s Municipality Finance returned to the domestic New Zealand dollar bond market on Friday after a long absence, to raise its largest Kauri bond since 2008.
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The International Finance Corporation (IFC) has launched the first systematic process by an issuer to formally integrate environmental, social and governance (ESG) considerations into choosing its bookrunners. Senior funding officials and sustainability bankers have welcomed the initiative as an important evolution in the use of ESG in capital markets, write Burhan Khadbai and Jon Hay.
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Egypt’s debut green bond, which had been expected to come to market in the first half of the year, is on hold, according to sources. But although the coronavirus pandemic has impacted issuance for issuers such as Egypt, the green bond market is far from dead.
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With one month to go of its 2019/2020 financial year, the International Finance Corporation has revised down its funding target.
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The International Finance Corp returned to the Australian dollar bond market to fund its response to the coronavirus pandemic on Monday, while at the end of last week BNG capped the strongest month for SSA Kangaroo deals for over nine months.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes as we reach the end of May and enter June.
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A quartet of SSAs borrowed a combined A$940m ($613.4m) into the Kangaroo market this week, spurring the SSA Aussie dollar market on to its best monthly volume in over nine months.
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Social bonds are proving to be a key part of SSAs fight against the coronavirus, with $10.6bn equivalent printed since the start of the pandemic. Having already tapped core currency markets last month, this week a pair of supranationals turned towards niche currencies to fund their response to the pandemic. With demand for the social format high, both bankers and funding officials are hopeful the new investor interest will stick around after the pandemic passes.
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The World Bank has increased its funding allowance for its 2019-20 fiscal year by $5bn. It now plans to raise between $55bn and $65bn, up from its previous $55bn-$60bn target, according to a funding official at the supranational.
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Despite the terrible effects of the coronavirus pandemic on capital markets, the MTN market is open and functioning.