World Bank

Hungary’s Export-Import Bank is beginning investor meetings in London on Tuesday ahead of a €400m bond deal. The transaction comes with a guarantee from the World Bank’s Multilateral Investment Guarantee Agency (MIGA), which has never been used before in the public bond market. Explaining the novel structure to new investors will be crucial to the deal’s success, investors said.

Bank Nederlandse Gemeenten is set to become the latest agency to price a dollar floater, having mandated a pair of banks to run a three year deal on Wednesday. BNG’s trade comes a day after the World Bank reopened the fixed rate market in the currency after a pause of more than a month.

This week's funding scorecard focuses on some of the major supranational borrowers. Next week's scorecard will give an update on the funding progress of a number of CEE sovereigns.

A new project has been launched by the World Bank to provide up to $400m of financing for small and medium enterprises (SMEs) in Turkey, increasing the sector’s access to medium and long term funding, specifically through lease financing.

Bank Nederlandse Gemeenten (BNG) may lead a small handful of issuers looking to print deals before investors pack their buckets and spades and head to the beach for the summer. The Dutch agency joins its compatriot Nederlandse Waterschapsbank (NWB) among the names that may well access public markets before August.

Beginning today with a round up of some of the biggest supranational issuers, SSA Markets will publish each Friday an update on how much funding SSA issuers have raised and how much they have left to find. Click on the borrower's name or it's logo to see more data.

The World Bank attracted an extra Rmb300m on June 6 when it reopened books on its recently priced offshore renminbi bond in response to strong reverse enquiry from investors.

The World Bank printed on Friday the largest dim sum bond by a supranational borrower. The issuer took advantage of advantageous swap market conditions combining with robust demand.

The World Bank sold its largest Malaysian ringgit bond in nearly three years on Monday ahead of a redemption in the currency next month. The deal proved appealing to asset managers with a positive outlook on the currency.

The lack of yield on offer in dollars and euros is encouraging investors to look towards niche and local currencies in an effort to maximise the return on their investment. With the EBRD selling its first ever Vietnamese dong bond this week, niche currency bankers are confident in the outlook for emerging market currencies.

The International Finance Corporation has hired three banks to run a three year global syndication, in what could be the only benchmark sized deal of the week.

The World Bank made serious inroads into the US investor base with a $5bn dual tranche transaction priced on Wednesday. But opinions are divided on the wisdom of it making its dollar comeback in two tranches, with some banks saying that the issuance of a sub-$1bn 10 year detracted from the success of the well oversubscribed $4.25bn three year.