Asian Development Bank ADB
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◆ New 10 year priced without tightening ◆ NIP squashed by swap spread moves ◆ ‘High quality book’ nevertheless -
◆ Nimble move pays off ◆ Demand alive and strong after busy Jan ◆ £1.75bn book size 'no mean feat'
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◆ Record books from top tier issuers ◆ Investors attracted by different tenors ◆ Heavy competition in five years expected next day
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◆ Joint largest size from non-UK public sector issuer ◆ ADB also raised £1bn ◆ Cross currency basis allows for sterling concession
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In euros, KfW and Belgium will test new year clearing levels
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Conditions ripe for further issuance but investor presence in doubt
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SSA issuers find investors receptive as summer pushes on
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Other SSA peers held back as market turned volatile
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Green format helps multilateral lender eschew new issue premium
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‘Rising Star’ originator returns to the funding side
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€1bn deal comes very tight to KfW and Germany
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Bank of England, KommuneKredit and Agence Française de Développement also price deals
