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◆ Debut seven year priced through issuer's dollar curve, leads say ◆ Green label and no-grow size steady IFC through selloff ◆ Rival banker questions wisdom of July inaugural
◆ Steep government curve means investors need less spread on top ◆ French spreads widen, but AFD tightens ◆ Fair value 'a fluid concept' on inverted curve
◆ Early order book built before Middle East risk returned ◆ Seven year spread held steady as 'insurance' against volatility ◆ Format chosen to avoid straining 'finite pool of liquidity'
◆ Issuer brings another pre-summer deal to fund enlarged programme ◆ Tightening possible despite weakened backdrop ◆ Book not huge but quality 'extremely high', spreads 'decent' to KfW and Land NRW
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Green commercial paper is taking off rapidly, propelled by issuers wanting to go green across the full financing spectrum and investors eager to put short-term cash to sustainable use. The market could grow as fast as green bonds have, and is attracting interest from new kinds of players, including government treasuries.
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The International Development Association sold its second sterling bond this week to extend its curve in the currency from December 2024 to September 2027.
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World Bank sold the longest ever Sofr-linked floating rate note from a public sector borrower on Thursday with a $600m 10 year trade.
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HSBC's Henry to retire — European Commission borrows IR and funding officials from EIB — Paterson joins CQS
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IDB Invest, the arm of the Inter-American Development Bank that lends to the private sector, matched its biggest ever deal size as it came to the market on Thursday for its debut sustainability bond.
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Two officials from the European Investment Bank are set to join the European Commission on long term secondments, bolstering the Commission’s head count in order to cope with the demands of its colossal funding programme.