KfW
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Investors brushed off the coronation of a new pro-Brexit prime minister in the UK on Tuesday to pile into a KfW trade and set a new size record for the sterling SSA green bond market. -
KfW picked banks on Monday for its first green bond in sterling since July 2015, as it increases the volume of its green bonds under its new framework.
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A trio of supranational and agency names headed out into niche currencies this week, as other SSA names say non-core currencies will be their focus for the rest of the year.
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The UK Debt Management Office (DMO) issued its 60th syndicated bond on Tuesday and signalled a “smooth” start to the second quarter of its 2019–20 financial year, as it printed an inflation-linked tap that was eight times oversubscribed.
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KfW tapped its December 2025s for £300m on Monday, with the solid demand for the trade being seen as a good omen for the UK sovereign’s sterling linker tap expected this week.
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This week's funding scorecard looks at the progress of Europe's supranationals and agencies as we enter the start of the third quarter.
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The European Investment Bank (EIB) and KfW reopened the sterling SSA bond market this week with the first public trades since early June. Demand for the currency has been strong all year round, but supply has wavered as a result of a less attractive cross currency basis swap.
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KfW reopened the sovereign, supranational and agency (SSA) dollar market this week, with the borrower finding a far more welcoming reception than its euro outing a day earlier.
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KfW and Bpifrance hit screens with taps of existing debt on Tuesday, with levels so tight that the sovereign, supranational and agency market’s best rated names are finding it trickier to get traction from investors.
