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The International Finance Corp has announced its funding programme for its 2020-21 fiscal year. -
Money market investors are beginning to feel left out of the ESG revolution sweeping capital markets. With the coronavirus pandemic bringing social concerns to the fore, the time is ripe for SSAs to show the kind of leadership they have demonstrated in the bond markets.
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Social commercial paper could be on its way to the SSA market, with several issuers telling GlobalCapital that investors are interested in the product. However, some are sceptical that themed debt will work in CP format.
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With SSA issuers' programmes rising to accommodate their responses to the coronavirus pandemic, the volume of deals transacted in niche currencies is closing in on a record high. With offshore interest in local currency deals healthy, however, many major banks are missing out on a busy and increasingly active market.
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The European Bank for Reconstruction and Development (EBRD) sold the first Algerian dinar-linked bond from a development finance institution last week. With local market liquidity drying up because of the collapse in the price of oil, further demand for dinar assets could depend on how well the nation’s economy diversifies away from the industry.
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Bank of China sold its first ever bond out of its Djibouti branch on Monday, as Chinese issuers pour into capital markets to make up for time lost to the coronavirus pandemic.
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With record borrowing programmes to complete as result of the pandemic, there will be no traditional major lull in issuance during the summer for public sector borrowers, according to bankers.
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The International Finance Facility for Immunisation (IFFIm) sold its second Norwegian kroner vaccine bond on Thursday, following a donor pledge from the Norwegian government.
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Frontier currency bonds are offering development finance institutions (DFIs) a way to offset exchange rate risks for their clients during the coronavirus crisis. With the number of disruptive events increasing, market participants feel that frontier currency bonds could provide a prudent way to decrease risk for developing country borrowers.
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After a rocky two months, the CP market is starting to normalise as spreads track in to their pre-pandemic levels and borrowers find themselves flush with cash.
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The Asian Development Bank sold the first ever Mongolian togrog denominated bond this week, funding a local dairy farm project in the country.
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Alberta made its first foray into the Norwegian kroner market on Thursday — the same day that S&P placed the province’s credit outlook on negative.
