World Bank

Emerging market borrowers’ growing appetite for capital market debt has increased the risks of a shock triggering a financial crisis, the World Bank has warned.

Investors piled into the euro public sector bond market on Wednesday, allowing borrowers to achieve well subscribed order books and minimal new issue concessions for a range of maturities.

The World Bank hit screens on Monday with a mandate for a new five year sustainable development Maple bond — its first public Canadian dollar issue since September.

For public sector issuers, niche currency deals have offered attractive opportunities for arbitrage funding, with spreads into euros and dollars spurring on demand this year. Meanwhile, strong investor appetite for green paper has seen niche shoots blossom throughout 2019. Frank Jackman reports

This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the beginning of December, with some issuers also setting their funding targets for 2020.

Investors have had to wait 22 years for the World Bank to issue in Danish kroner, but the supranational returned at the end of last week with a long-dated green bond.

The World Bank has issued the first catastrophe bond to be sponsored by an Asian government, and the first to be listed on the Singapore Exchange. The Philippines will receive protection against damage caused by earthquakes and cyclones, writes Jasper Cox.

KfW returned to Polish zloty issuance last Friday after a 13 year absence from the market, as it looks to tap new sources of capital.

In this round-up, the big five Chinese banks have boosted lending to small and micro enterprises by 30% this year, the Chinese Ministry of Finance is planning to issue a euro bond and China’s ranking in ease of doing business jumped to 31 from 46.

The World Bank is hoping to step up its activity as an intermediary in commodity hedging transactions, providing credit enhancements for its clients in their arrangements with insurers to protect them from external shocks

Rating: Aaa/AAA

Jingdong Hua, the World Bank’s treasurer, has got a plan to get the world’s largest investors involved in local currency bonds markets.