The Asian Development Bank brought a pair of new themed bonds to the market this week, printing its first gender bond in Kazakhstani tenge as well as its first education bond.
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.
Green commercial paper is taking off rapidly, propelled by issuers wanting to go green across the full financing spectrum and investors eager to put short-term cash to sustainable use. The market could grow as fast as green bonds have, and is attracting interest from new kinds of players, including government treasuries.
KfW printed its first green bond in South African rand this week, reflecting the growth in demand for sustainable products outside of core currencies, according to a funding official at the agency.
Finland’s Municipality Finance has had a busy week in the Norwegian krone market, as demand from domestic bank treasuries for high quality liquid assets (HQLA) drove a pair of floating rate notes in the currency.
MTN issuance out of Asia and Sweden provided some of the week’s bright spots in what was otherwise a quiet start to the year. With the public market now in full swing, bankers expect the private placement market to get up to speed in the coming weeks.
Amélie Darrort, co-head of the euro medium term note desk and head of French public sector debt capital markets at JP Morgan, will be relocating from London to Paris in the summer as part of a post-Brexit relocation, GlobalCapital understands.
Toby Croasdell has been appointed global head of MTNs, private placements and commercial paper at Crédit Agricole, following the promotion of previous head Benjamin Lamberg last month.
The MTN market has had a tough year, as central bank support programmes and rampant public market issuance ate away at the volume done in private markets. Most notable was the 42% decline in bank issuance, which made up the majority of the year’s fall in MTN volume.
Italy returned to the private placement market to print one of the year’s largest MTNs on Thursday. The deal stood out this week, since issuance in the market has started to wind down ahead of Christmas.