The Province of Manitoba on Tuesday sold its largest ever deal in euros, tapping its June 2040 line for €212m. The deal has, according to a funding official at the issuer, paved the way for a debut public transaction in the currency.
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The European Bank for Reconstruction and Development on Wednesday sold its second Kazakhstani tenge note ever in what bankers say is an oil price play.
Belgium has sold a June 2040 private placement with a coupon linked to the European consumer price index, following in the footsteps of Italy which placed a 30 year inflation-linked note on May 4.
A new electronic platform for private placements launched this week has interest from 17 dealers and 18 issuers, according to the initiative’s chief executive Pieter van Dyck.
Italy has sold a 30 year private placement with a coupon linked to the European consumer price index. Market participants are speculating that the deal indicates confidence that inflation may begin to rise.
The low interest rate environment is causing investors to look at longer and longer paper in search of yield. Issuers are seizing the chance for long funding with private placements.