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◆ Other options on table but issuer opts for two taps ◆ ‘Huge books’ now a norm for the issuer, clear NIP this time ◆ EU’s curve evolves to resemble that of EGB peers
Century bonds might be smart funding for an issuer but they are also a signalling tool that tell us about investor desire, confidence and changing market cycles
◆ Tightest level since IFC's three year print ◆ Investors recycle redemptions ◆ Programmatic and pragmatic approach
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There is no failure, only feedback; no stumbling blocks, only milestones -
First batch of post-summer new issues flooded with demand, but will it last?
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◆ Five year 'would have been simple option' ◆ Building on success of World Bank ◆ Swap spreads steady despite heavy issuance
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◆ 'Tightest spread ever' in dollar SSA primary ◆ Flat or through fair value debated ◆ Technicals could push spreads even more
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◆ Final euro benchmark done at optimal time ◆ Spread to KfW was key, little NIP paid ◆ Investor work has 'really come into fruition'
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Long-dated bonds in demand as callables lead. Euro and dollar floaters mop up cash
Sub-sections
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Sponsored by Islamic Development Bank (IsDB)
Sukuk market’s next chapter: Financing the future, sustainably
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
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