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Supranationals closed over $520m from 22 trades this week in a variety of currencies. European Investment Bank closed a Ck550m note that goes out 20 years. The note pays an annual coupon of 4% and was led by ABN Amro, simultaneous to a Eu100m issue. World Bank was the busiest supranational and the fourth biggest borrower in terms of volume in the whole market this week. Along with a variety of yen and dollar deals, World Bank also issued two Australian dollar trades totalling A$450m.

Trading in the EuroMTN market continued to rise throughout October with issuance in the five to seven year sector totalling over $1.5bn. Euro proved to be the most popular currency in this maturity range. Wuerttembergische Hypothekenbank went out seven years with a Eu20m trade. The note pays an annual step-up coupon of 4.3% until February 11, 2004, and thereafter pays 4.6% a year. Fellow German borrower, Landesbank Sachsen, closed two Eu100m trades that settle on November 1 and November 5, 2007. Both trades were led by Crédit Agricole Indosuez and pay a coupon of 1bp over three month Euribor.