World Bank

This week's funding scorecard focuses on some of the major supranational borrowers, some of which have just announced new funding programmes. Next Friday's scorecard will give take a look at the funding progress of several major European supranationals and agencies.

Corporacion Andina de Fomento (CAF) is preparing to sell its debut Kangaroo bond on Wednesday, opting for a three year note. The World Bank is also set to price a tap of five year Kangaroo debt on the same day, following on from a Kauri increase on Tuesday.

The World Bank is set to price a tap of five year Kauri bonds on Tuesday, continuing a busy year of New Zealand dollar issuance from supranationals and agencies. The Inter-American Development Bank also turned its gaze south this week, selling a tap of 10 year Kangaroo bonds on Monday.

Rentenbank has made its first foray into the world of socially responsible securities, printing a €50m seven year renewable energy bond on Monday — and declaring itself open for more.

The World Bank sold its largest ever Green bond on Friday, taking advantage of growing investor interest in the asset class. While the issuer had originally planned for a smaller deal by targeting specialised investors, the demand was high enough for leads to more than double the final deal size from the initial expected outcome.

This week's funding scorecard focuses on some of the major supranational borrowers, some of which have just announced new funding programmes. Next Friday's scorecard will give take a look at the funding progress of a number of European supranationals and agencies.

A golden opportunity to lock in cheap duration funding over the summer may go begging if SSA borrowers ignore the Kangaroo market, said senior SSA bankers. A growing bid from Japan for long-dated paper and the biggest month for Kangaroo bond redemptions since 2011 is set to leave a bumper bundle of cash looking for a place to be invested.

The World Bank became the latest SSA name to price a dollar floating rate bond this week, with a $500m reverse enquiry-driven print sold with Citi as sole lead manager.

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.