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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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The European Union has announced that it will kick-off the funding for its Support to Mitigate Unemployment Risks in an Emergency (SURE) fund in the first half of October after previously aiming for a date towards the end of this month.
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The World Bank hit screens on Monday with a new seven year New Zealand dollar bond; the first at that tenor from a foreign issuer in almost 18 months.
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French agency Cades will debut its social bond framework in dollars on Tuesday, less than a week after it raised the largest ever bond in the format with its inaugural issue in euros. It will share the market with the International Development Association (IDA), which is preparing to kick off its 2020/21 funding year with a sustainable development benchmark of its own.
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Rentenbank is moving forward with its plans to issue a debut euro green benchmark bond following a series of investor meetings over the past few weeks.
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The International Finance Corporation has named two of its senior funding officers to lead the supranational’s borrowing operations in Europe and Asia.
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The New Development Bank has appointed the syndicate to lead its second dollar benchmark, the proceeds of which will fund its coronavirus response.