Nordic Investment Bank NIB

The Nordic Investment Bank sold its first dollar callable zero in over a year this week, as the issuer revealed tentative plans to target the currency in larger size during the second half of the year.

Export Development Canada (EDC) sold five year Kangaroo debt on Tuesday, attracting strong interest from central banks and bank treasuries. The deal reassured syndicate bankers that demand is strong in the currency despite falling yields. The deal is expected to be followed by taps of 10 year debt from the Nordic Investment Bank (NIB) and Rentenbank on Wednesday.

The Nordic Investment Bank has mandated banks for a five year Kangaroo deal, its first new line in the currency since July 2012. Rentenbank also tapped its 10 year debt, benefiting from the currency’s steep yield curve.

The International Finance Corporation has hired three banks to run a three year global syndication, in what could be the only benchmark sized deal of the week.

Nordic Investment Bank priced its largest ever benchmark on Thursday afternoon — a $2bn April 2016 global. Strong central bank demand and a record breaking book pushed the borrower to do a larger deal than it had originally planned.

The Nordic Investment Bank (NIB) became on Wednesday afternoon the latest SSA name to attempt to borrow three year money from dollar investors. The supranational credit followed German agency, L-Bank, which priced its first dollar benchmark since April 2012 on Wednesday afternoon.

The Nordic Investment Bank and the European Investment Bank snapped up opportunities in niche currencies on Friday — NIB sold its first Brazilian real deal in almost two years and the EIB tapped a five year Norwegian krone deal. The deals are likely to be the first of a rush — niche currency markets will be a hotbed of activity in the coming weeks, said bankers.

Friday saw a flurry of activity in the 10 year area of the curve in Australian dollars, with supranationals looking to take advantage of yield hungry investors pushing along the curve and a favourable basis swap.

Nordic Investment Bank priced its second five-year dollar benchmark of the year on Tuesday afternoon. While the trade achieved punchy the issuer’s tightest ever spread to Treasuries, this proved a double edged sword as the deal failed to reach full subscription.

NIB opened books on a hotly anticipated five year dollar global dollar on Tuesday morning after weeks of speculation, taking encouragement from recent successful deals from SSAs in dollars.

The Nordic Investment Bank has announced plans to bring a global dollar benchmark this week following successful prints in the format by the International Finance Corporation and FMS Wertmanagement. The deal has been in the works for some time, and the success of recent dollar deals has encouraged the agency to re-enter the dollar market.

The Nordic Investment Bank (NIB) is considering a dollar benchmark deal in the near future, and is consulting with banks to determine feasibility and possible terms.