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Issuers to make better use of September window, and October pipeline now looks ‘very thin’ as rates worries add to US mid-term concerns
◆ Swedish agency brought tightly priced five year bond ◆ Pick-up to US govvie hits new low ◆ Quality of demand 'exceptionally high' from the get-go
◆ 'New SSA on the block' returns after six months ◆ Two more green bonds added to euro curve ◆ Pricing flat to fair value, 'consistent' spread to Dutch govvie achieved
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Österreichische Kontrollbank (ÖKB) kept up the strong momentum from European public sector borrowers in the dollar market on Thursday with a well received five year deal which priced through its own curve.
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Following its inaugural sustainability bond on Monday, Luxembourg hopes that other sovereigns will use its framework as a starting point for their own outings in the format. The Grand Duchy’s sustainability framework is the first to align with the recently published EU taxonomy.
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Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.
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