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Supras and agencies

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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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  • Finnvera has become the first European SSA borrower to print a five year dollar benchmark since early March, picking up $1bn with a Reg S/144A benchmark.
  • The Nordic Investment Bank has hired a sustainability expert to run its sustainability and mandate unit, which it recently moved from its lending department to treasury.
  • The euro market is calmer than it has been for months this week, but despite the favourable backdrop, issuers appear to be steering clear.
  • The world’s first bond denominated in Uzbekistani soum was listed on the London Stock Exchange on Wednesday morning. The bond, issued by the International Finance Corporation, is expected to be the first step in the country’s growing ambitions for a capital markets presence.
  • Korea Development Bank sold a dual-listed offshore renminbi bond on Tuesday amid volatile markets. But it achieved the largest size for a CNH bond issue in more than a month, while also pricing inside one of its peers.
  • The head of SSA origination and structuring at Deutsche Bank has resigned from the bank’s London operation, GlobalCapital understands.