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SSA MTNs and CP

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Tight funding levels and an abundance of investor cash made for brisk MTN issuance in 2025. The story may change in 2026, with public market issuance named as one factor that could crowd out private placements. But a broadening Asian bid for MTNs offers hope for the market, writes Diana Bui
Aroundtown and Toyota tap private markets as public supply winds down
CEB plans to print more structured notes and may launch inaugural Sofr bond in 2026
GlobalCapital is pleased to announce the shortlist for its inaugural MTN Awards
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  • Bank of China sold its first ever bond out of its Djibouti branch on Monday, as Chinese issuers pour into capital markets to make up for time lost to the coronavirus pandemic.
  • SSA
    With record borrowing programmes to complete as result of the pandemic, there will be no traditional major lull in issuance during the summer for public sector borrowers, according to bankers.
  • The International Finance Facility for Immunisation (IFFIm) sold its second Norwegian kroner vaccine bond on Thursday, following a donor pledge from the Norwegian government.
  • Frontier currency bonds are offering development finance institutions (DFIs) a way to offset exchange rate risks for their clients during the coronavirus crisis. With the number of disruptive events increasing, market participants feel that frontier currency bonds could provide a prudent way to decrease risk for developing country borrowers.
  • After a rocky two months, the CP market is starting to normalise as spreads track in to their pre-pandemic levels and borrowers find themselves flush with cash.
  • The Asian Development Bank sold the first ever Mongolian togrog denominated bond this week, funding a local dairy farm project in the country.