TD Securities
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The European Union achieved an impressive result once again on Tuesday, raising €14bn for its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme on Tuesday. -
World Bank announced a dual tranche in Australian dollars on Monday — its first syndication in the currency in 2020.
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The European Financial Stability Facility made a quick and impressive visit to the euro market on Monday, concluding its funding needs for the year, ahead of the European Union’s second outing under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme, which is expected to be priced on Tuesday.
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Asian Development Bank printed the largest SSA kangaroo benchmark of the year on Tuesday, taking advantage of a brief issuance window and capitalising on expectations of the start of quantitative easing in Australia.
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Supply in the SSA dollar market is clustered at the short end of the curve, as borrowers focus on defensive tenors ahead of the upcoming US election. Kommuninvest landed a sizeable benchmark on Tuesday, while Kommunalbanken will follow suit on Wednesday.
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Focus was on the public market this week, with supranationals making up the majority of MTN supply.
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The dollar market has endured one of its slowest weeks since the onset of the Covid 19 pandemic, with just one corporate borrower coming to the market.
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The Asian Infrastructure Investment Bank made a huge statement with its first sterling bond this week, achieving an impressive size at a tight price with participation from a wide pool of accounts, in what is another significant step for the borrower as it continues its road towards a frequent and diversified presence in the capital markets.
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The Council of Europe Development Bank (CEB) took advantage of a strong market on Wednesday to issue its first ever benchmark transaction for pre-funding purposes.
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The Asian Infrastructure Investment Bank achieved a strong result as it made its debut in the sterling bond market on Wednesday, making it the second currency in which the Beijing-based supranational has issued a benchmark transaction.
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Caisse d’Amortissement de la Dette Sociale (Cades) will add a new point on its dollar social bond curve with a 10 year trade on Wednesday, where it will be joined by two other public sector issuers in the currency.
