World Bank
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The World Bank is looking to New Zealand for a new five year. The deal will be its first bond in the Kauri market since January 2019. -
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 3. The source for secondary trading levels is ICE Data Services.
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World Bank hit a number of landmarks on size, demand and pricing with its first sterling benchmark of the year. It used a maturity that has become the new sweet spot for SSAs in the currency as issuers seek more attractive funding levels versus euros and dollars.
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World Bank broke its size and order book record in the sterling bond market on Tuesday with a maturity that has become the new sweet spot in the currency for SSA borrowers.
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World Bank appointed banks for a December 2026 sterling bond on Monday. The issuer will be the third public sector borrower in the last week to access this part of the sterling curve in order to achieve a more attractive funding cost versus euros and dollars.
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A pair of supranationals have reopened Danish krone green bonds. Domestic interest in SSA paper has grown over the last year, with green issuance a primary driver.
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The World Bank made its first visit to the Rwandan franc market last week, place what Dealogic indicates is the first deal in the currency since 2015.
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The public sector debt market has had a superb start to 2020, breaking records right and left in defiance of geopolitical tensions that, in previous years, would have scuppered the market as it left the dock, writes Lewis McLellan.
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Catastrophe bonds issued by the World Bank have been positive for both investors and the countries receiving protection from the securities, according to one market veteran. The organisation’s activity in insurance-linked securities has been highly innovative but has also received criticism from some quarters.
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A pair of supranationals opened the Maple market with sustainability bonds this week. The Canadian green market is “going through a growth phase” as more and more domestic investors show interest in the product, according to bankers.
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The European Investment Bank and World Bank kept the strong momentum flowing in the euro public sector bond market on Thursday, hitting the sweet spot with 10 and seven year benchmarks, respectively.
