Supranationals & Agencies All Articles

  • World Bank tests volatility-battered investors

    The World Bank has launched a $3.5bn 2024 trade with the book size and stationary spread during execution pointing to how timid investors feel after a fortnight of volatility.

    • 04:45 PM
  • EBRD debuts Sofr in tricky market

    The European Bank for Reconstruction and Development (EBRD) has launched its debut secured overnight financing rate-linked (Sofr) bond at $600m, with bankers off the trade saying the deal had to traverse the same timid market that other dollar trades face this week.

    • 04:45 PM
  • ESM expected in dollars in next week

    The European Stability Mechanism is expected to use its scheduled funding window next week to issue a dollar bond after it did not send out a request for proposals for a euro deal as it usually does, according to market participants.

    • 04:45 PM
  • World Bank eyes first dollar benchmark of fiscal year

    The World Bank has mandated for its first dollar benchmark of its fiscal year, as the issuer starts hacking away at its up to $60bn funding programme for the year.

    • 20 Aug 2019
  • EBRD joins growing coupon trend with Sofr debut

    The European Bank for Reconstruction and Development has hit screens with its debut trade linked to the secure overnight financing rate (Sofr), with the issuer the third in quick succession to mirror the coupon technique found in the Sonia bond market.

    • 20 Aug 2019
  • Dollar SSA market lit up with kaleidoscope of trades

    The dollar SSA market was ablaze on Tuesday, with five deals on screen offering small new issue premiums and gaining chunky demand across the maturity curve.

    • 20 Aug 2019
  • KommuneKredit underwhelms as it tests ‘unchartered territories’

    KommuneKredit failed to set the market alight with the first euro syndicated public sector bond since mid-July, excluding deals from German Laender. The Danish agency only managed to sell €500m for the 11 year benchmark and was unable to tighten the spread during pricing.

    • 20 Aug 2019
  • IADB and IFC tap busy Kauri market

    Following last Friday’s Asian Development Bank Kiwi dollar deal, the Inter-American Development Bank and International Finance Corporation both came to the Kauri market on Tuesday to tap a pair of mid-curve notes. With demand for mid-curve Kauri products high, bankers expect more issuers to follow as funding remains attractive for dollar-based borrowers.

    • 20 Aug 2019
  • KommuneKredit readies first euro trade of 2019, following triple-A return

    Danish agency KommuneKredit mandated banks on Monday for its first euro-denominated bond of the year and the first euro syndicated public sector bond since mid-July, excluding German regions.

    • 19 Aug 2019
  • SSA duo kick away dollar cobwebs

    Land NRW and Nederlandse Waterschapsbank mandated for dollars on Monday, kickstarting the market again after a fortnight of blank screens in the currency.

    • 19 Aug 2019
  • Supranationals pile into Kauri market

    The Asian Development Bank returned to the Kiwi dollar market to print its largest Kauri deal since January 2018 this week. With the Inter-American Development Bank and International Finance Corporation set to follow with a pair of taps in the coming days, bankers are expecting a busy few weeks in the market as investors react to the recent surprise interest rate cut from the Reserve Bank of New Zealand.

    • 19 Aug 2019
  • Funding scorecard: European supranationals and agencies

    This week's funding scorecard looks at the progress that Europe's supranationals and agencies have made in their funding programmes by the mid-point of August.

    • 16 Aug 2019
  • IFFIm risks post-Brexit downgrade

    With the UK under risk of a credit rating downgrade in the event of a no-deal Brexit, there is some concern that this could have a negative effect on the International Finance Facility for Immunisation (IFFIm), to which the country is the largest donor.

    • 14 Aug 2019
  • UniCredit appoints new SSA trading head

    UniCredit has hired a new head of trading for sovereigns, supranationals and agencies to its European government bond trading desk in Milan.

    • 13 Aug 2019
  • Scandi taps flow after summer break

    Volumes are growing across the spectrum in the Scandinavian MTN markets, as issuers and bankers return from their summer holidays. Meanwhile, bankers are expecting Scandinavian investors to move further out along the credit curve in response to negative yields as dovish Nordic central bank tones could lead to a bullish Scandinavian market.

    • 13 Aug 2019
  • Funding scorecard: Nordic agencies

    This week's scorecard looks at the progress Nordic agencies have made in their 2019 funding programmes.

    • 12 Aug 2019
  • SNCF brings century bond

    SNCF Réseau steamed ahead with a new century bond issue this week, its second and largest deal to date, amid declining rates that has seen more and more investors take a risk at the ultra-long end in return for yield pick-up.

    • 08 Aug 2019
  • KfW debuts green framework in Hong Kong dollars

    German agency KfW is “open to further business in [both] Singapore and Hong Kong dollars” as it looks to expand its recently updated green framework. Last week, the agency made its green bond debut in Hong Kong dollars, placing a two year private placement on August 2.

    • 08 Aug 2019
  • MuniFin eyes insurers following Solvency II amendment

    Finland’s Municipality Finance is hoping to receive increased demand for its bonds from insurance companies, following a recent amendment to the Solvency II regulation.

    • 07 Aug 2019
  • Asian fixed income behemoths team up for green bonds

    The Asian Development Bank (ADB) and Japan’s Government Pension Investment Fund (GPIF) have launched an initiative to promote green bonds, with the largest pension fund in the world requiring all of its asset managers to consider sustainability aspects in decision making.

    • 06 Aug 2019
  • Central banks should publish compounded post-Libor rates

    One of the biggest, if not the biggest problems facing borrowers in the move away from Libor is a mathematical one. Everyone agrees coupons based on the new risk-free rates should be compounded. But no one can agree on how to do the compounding. Central banks could solve this at a stroke.

    • 06 Aug 2019
  • FMS-W appoints new treasury head

    FMS Wertmanagement has made an internal appointment for the new head of its treasury, following the departure of Tim Armbruster in July.

    • 05 Aug 2019
  • World Bank eyes 'further advancement' of innovative blockchain bond

    The World Bank is preparing to reopen its 'blockchain offered new debt instrument', or bond-i for short, as it looks to market the Australian dollar deal to a more international audience.

    • 02 Aug 2019
  • World Bank already eyeing market return

    The World Bank has kicked off its up to $60bn funding programme for the year, and the issuer is expecting to be in the market again soon.

    • 01 Aug 2019
  • World Bank trade puts Sofr standardisation within grasp

    The World Bank has printed the longest ever bond with a coupon linked to the Secured Overnight Financing Rate (Sofr), edging the market towards settling the debate about how to calculate coupons based on the benchmark rate.

    • 01 Aug 2019
  • EIB takes sterling to new SRI heights

    The European Investment Bank set two records in the sterling bond market this week. The supranational issued the largest ever single tranche socially responsible bond in sterling across any sector, which took supranational and agency supply in the currency to an all-time annual high — even though it’s only August.

    • 01 Aug 2019
  • NDB set to make a capital markets splash, Bric by Bric

    New Development Bank, the supranational set up in 2015 by the Brics nations, is building a diverse funding programme, which includes local currency, dollar and green bonds. Leslie Maasdorp, chief financial officer of the NDB, spoke to GlobalCapital this week about the bank’s plans to become a regular and diversified borrower in the capital markets.

    • 01 Aug 2019