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This week's funding scorecard looks at the progress French agencies have made in their funding programmes as we approach the end of May.

Covered bond investors wasted little time in placing big orders on Tuesday for the largest ever green deal issued in Swedish kronor — a five year floating rate transaction secured on energy efficient mortgages from Sparebank 1 Boligkreditt (Spabol). At the same time, Credit Mutuel Arkéa issued a long 10 year with blow-out demand, reflecting a material concern that covered bond supply, net of central bank purchases and redemptions, will be deeply negative this year.

The German government has waved through a €9bn bailout package for flag carrier Lufthansa, paving the way for the state bailout fund to own up to 25% of the company.

Africa Finance Corporation (AFC), the Nigeria-based multilateral development bank (MDBs), has emerged at the forefront of regional coronavirus rescue efforts, providing financing for emergency hospitals, medical aid and more. As Africa finds itself at the centre of global calls for emergency financing and debt relief, the AFC’s chief executive, Samaila Zubairu, talks to GlobalCapital about the bank’s response to the crisis, how its own fundraising plans have been affected, and the future of Chinese capital in the region.

The New Development Bank is looking to take advantage of the strong demand in dollars by bringing its long-awaited inaugural trade in the currency as part of its response to the coronavirus pandemic.

The Republic of Estonia has mandated for a 10 year benchmark bond, as it prepares for its first foray into bond markets since 2002.

The European Commission has ratified the €100bn Support to mitigate Unemployment Risks in an Emergency (SURE) fund and the European Union debt office has confirmed that it will be responsible for financing loans made under the new programme.

Banque Fédérative du Crédit Mutuel tested appetite on Tuesday for a 10 year non-preferred senior deal, with supply in the asset class having slowed to a near standstill during the coronavirus pandemic.

Investors have poured in orders on the first official day of book building for the Amsterdam IPO of coffee company JDE Peet’s. The company built early momentum with several big cornerstone orders and has continued to attract strong demand from investors because of the strength of its business despite the Covid-19 pandemic.

JP Morgan has started syndication on a refinancing loan for Micro Focus, a deal first marketed at the end of February but pulled in the first week of March, in a further sign that the loan market is healing enough to start clearing the overhang of pre-coronavirus financings.

The European Banking Authority warned this week that lenders could struggle with asset quality problems for years as a result of Covid-19, publishing the findings in its first sensitivity analysis of the EU banking sector.

The head of the Cyprus public debt management office believes that the amount Cyprus can claim under the ESM pandemic support facility “is insufficient to justify any such action”.