World Bank
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World Bank and KfW sold socially responsible bonds in Scandinavian currencies on Tuesday.
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The World Bank and the United Nations Children’s Fund (Unicef) have partnered up for a new privately placed deal to front-load funding to the agency — the first time the World Bank has partnered with a UN agency in this way.
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The Asian Infrastructure Investment Bank issued its second bond in Indian rupees via a private placement this week. Elsewhere, as rates rise, MTN dealers are finding attractive opportunities in other key Asian markets.
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The Asian Development Bank has sold its first ever education bond. The proceeds will go towards financing technical and vocational training for educators in the Asia Pacific region.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, February 8. The source for secondary trading levels is ICE Data Services.
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World Bank has been aggressively pushing out its curve linked to the Secured Overnight Financing Rate: the new risk free rate in dollars. Other supranationals are eager to follow the Bretton Woods institution into longer dated floating rate paper.
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World Bank sold the longest ever Sofr-linked floating rate note from a public sector borrower on Thursday with a $600m 10 year trade.
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The World Bank hit the long end of the dollar market on Tuesday. It was joined in the currency by a French agency issuing at the popular five year tenor.
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The World Bank will be the latest public sector borrower to hit the long end of the dollar curve after mandating banks on Monday for a new 10 year benchmark, taking advantage of the increased investor appetite for this maturity as a result of the higher yields on offer.
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World Bank extended its euro benchmark curve with flying colours on Wednesday, in a further sign of ample demand for duration amid a low yielding environment.