World Bank

The Inter-American Investment Corporation (IIC) has mandated four banks for its debut offering which will be a dollar-denominated floating rate note.

The European Investment Bank (EIB) and the World Bank both jumped into the Russian rouble market on Wednesday to capitalise on the recent strong flows of non-domestic demand for high quality SSA names in the high yielding currency.

World Bank is eyeing up sterling investors in a bid to further diversify an already broad investor base. The Washington supranational revealed its plans after printing a £50m two year privately placed MTN on Monday.

World Bank raised eyebrows among MTN dealers as it printed its first sterling floating rate note in 20 years on Monday. Commercial paper issuers have also been busy in the currency this week.

The World Bank found yet more demand for a 6.25% July 2014 Russian rouble line on September 14, allowing it to print a Rb425m ($13.9m) increase of a Rb750m tap it priced the previous Tuesday. The line now stands at Rb5bn.

The World Bank and KfW capitalised on strong momentum in the Russian rouble Eurobond market to tap an existing line and print a new issue, respectively.

With a large NZ$500m redemption due on Thursday, International Finance Corp (IFC) entered the Kauri market on Monday pricing a new NZ$300m ($242.55m) 3.5% five year line – a tenor that has dominated SSA issuance this summer.

The World Bank returned to the Mexican peso market for the second time this year when it priced a MP800m ($60.9m) two year trade on Tuesday, which it increased by a further MP200m the following day.

KfW priced a five year NZ$100m ($81.26m) bond on Thursday. Although the tenor follows a trend of recent Kauri deals, the German agency opted for the less familiar Eurobond format.

Bank Nederlandse Gemeenten (BNG) tapped its 2.375% five year Canadian Eurobond on Tuesday. This marks the start of further loonie activity according to bankers.

The World Bank priced a new 2017 Kauri bond on Tuesday. Growing from just NZ$200m, bankers expect this to start a new trend for Washington supranational Kauri bonds.

World Bank printed its largest Polish zloty-denominated deal in a decade late last week, helping the issuer to race out the blocks at the start of its funding year.