The sovereign/supranational sector is poised to see a borrowing spree in dollars, with issuers attracted by compelling arbitrage conditions, particularly in the five year sector. The European Investment Bank was the first borrower to take advantage of the favourable environment this week, issuing a $3bn June 2008 transaction lead managed by Citigroup, Credit Suisse First Boston and Goldman Sachs. IFC, IADB, ADB, Denmark and Rentenbank are set to follow in dollars, and the Kingdom of Spain in euros.
April 04, 2003