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Performance compared to peers and quality of demand 'really impressive'
◆ Spread set at starting level ◆ Floor in sight for agencies ◆ 'Success for Kommuninvest'
◆ Supra prices inside peers’ seven year deals ◆ Slim NIP paid after 3bp tightening ◆ ‘Very strong day’ for SSA market
◆ Sharp landing through a noisy open ◆ Grinding towards US Treasuries ◆ Bankers praise execution but warn of residuals building
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The European Financial Stability Facility (EFSF) on Tuesday priced a €4bn dual-tranche transaction, tapping into a fairly unusual tenor of 35 years.
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Japan Bank for International Cooperation (JBIC) raised $3.5bn from a triple-tranche bond deal in its first outing in the dollar market since November.
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A long dated euro benchmark from Quebec had the strongest scores of the week on BondMarker.
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KfW on Monday priced a tap of its recent 15 year euro bond in line with guidance, doubling the overall deal size to €2bn.
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The European Investment Bank is set to bring the first five year dollar benchmark from an SSA in nearly three weeks — and only the third since the first quarter — after mandating banks on Monday. The issuer will be joined by a triple tranche trade from the Japan Bank for International Cooperation.
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The governance problems at the United Nations’ Green Climate Fund hit a new low this week when a four day board meeting was almost entirely taken up with procedural wrangling and failed to reach agreement on most of the agenda.