The European Investment Bank has tapped its August 2026 Polish zloty line for Z500m ($138.7m), taking the total outstanding to Z2.5bn. The trade forms part of EIB’s strategy to increase funding in Polish zloty, in which the issuer has three lines approaching benchmark size amid a perceived structural shortage in the currency.
The European Investment Bank (EIB) tapped South African rand twice this week, amid rising yields in the currency. Elsewhere, the International Finance Corporation (IFC) and World Bank both sold three lots of offshore renminbi, and Nordic Investment Bank (NIB) returned to Hong Kong dollars.
Flexible investors are returning small amounts of money into prime funds after the mass exodus experienced following money fund reform, according to a Moody’s report. However, a managing director at Barclays believes this is not yet a significant trend.
Agence Française de Développement has placed a €205m clip maturing in 2037, exceeding the length of its previous longest trade in the currency by five years.
A position paper detailing a new unified approach to impact reporting by Nordic public sector green bond issuers has been welcomed by investors, who hailed its broad scope and detailed methodology as an important development for the market.
Supranationals have delivered a spurt of niche currency medium term notes, returning to old favourites like South African rand as well as making use of demand for more exotic currencies, particularly in Latin America.
The African Development Bank has sold its longest MTN ever, leading a spurt of long dated private placement euro issuance from public sector borrowers.
KfW has sold Europe’s first blockchain-based bond, although a quirk of German law meant the transaction had to be replicated on paper. While the bond was instantly settled, those involved say a crucial component is missing if this technology is to become part of capital markets’ infrastructure: a cash settlement facility on a distributed ledger.