KfW
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Arbitrage lures issuers amid volatile backdrop -
Second tap in the currency in recent weeks as policy bank surges ahead with arb funding
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Supra to tap benchmark pairing for second time as KfW goes shorter
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German issuer funded in sterling more cheaply than in euros or dollars
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Issuer raised $4bn from third dollar benchmark of the year
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‘Window-driven market’ drove large SSA issuers to compete for attention, as KfW landed a tight price but the EIB took its biggest book of the year
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Top European borrowers bring competition in crowded market
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Increase to old bond attracts strong demand as RBA triggers buying
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Issuers are warned they now have to pay up as the ECB's 'backstop' is no more
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There is 'something for everyone' as pace of issuance accelerates
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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
