Nordic Investment Bank NIB

The International Finance Corp sold its joint biggest sterling bond by volume with its debut Sonia-linked bond on Tuesday, adding to the flurry of trades in the format since the start of the year. But the Sonia rush is “not over yet”, according to a banker at one of the leads, with a few more on the horizon before the UK parliament votes on Theresa May's Brexit deal next week.

Public sector borrowers could look to join the European Bank for Reconstruction and Development in pre-funding for 2019 if the market backdrop — such as volatility in the Italian government bond market — improves, said SSA bankers.

Nordic Investment Bank is looking at the option to pre-fund for 2019, after completing its funding needs for the year.

This week's funding scorecard looks at the progress supranationals have made in their funding programmes.

This week's funding scorecard looks at the progress supranationals have made in their funding programmes.

This week's funding scorecard looks at the progress various supranationals have made in their funding programmes.

Public sector borrowers will enjoy sparkling conditions in the dollar market in the coming weeks if they choose to fund in the currency, said SSA bankers, with demand far outstripping supply. But candidates look hard to find after a handful of deals this week, with euros still offering better all-in pricing levels.

The Nordic Investment Bank was able to ratchet in pricing to the lowest five year spread for several years as it fed a dollar market starved of supply.

The Nordic Investment Bank is set to bring a dollar benchmark in the five year part of the curve, a tenor that has come back into fashion for public sector borrowers — including from the European Investment Bank on Tuesday. That is despite most secondary flows coming in shorter maturities, according to SSA bankers.

The Nordic Investment Bank has hired a sustainability expert to run its sustainability and mandate unit, which it recently moved from its lending department to treasury.

Public sector borrowers had one of their busiest weeks of the year in sterling, with a supranational trade in particular getting a strong reception. More could follow next week, with demand strong from Asian investors, said bankers.

This week's funding scorecard looks at the progress various supranationals have made in their funding programmes.