African Development Bank AfDB
-
The response to some of this week’s dollar deals has got some bankers believing that next week’s US Federal Reserve meeting might not prove to be the market shutting millstone that it had promised to be just a few weeks ago. -
Kommunalbanken on Thursday sold its largest floating rate note ever — and the largest floater from an SSA since early March — as bankers away from the trade said the “stars aligned” for the issuer.
-
A pair of public sector borrowers are lining up to sell dollar floating rate notes on Thursday, following a series of floating and fixed rate deals in the currency on Wednesday.
-
Eskom, the South African state-owned electricity firm, is arranging a syndicated loan with a guarantee from African Development Bank (AfDB), and the deal could be as large as $1bn, said one banker this week.
-
Issuers stormed out of the blocks with a set of deals across the curve this week, with factors including an increase in swap spreads on the short end, a positive feeling towards the US market since Janet Yellen’s statements in March and the start of the Japanese fiscal year all credited.
-
The African Development Bank and L-Bank on Thursday added to a surge of deals at the short end of the dollar curve, as issuance rode on a wave of dovish central bank outlooks.
-
L-Bank and the African Development Bank are set to be the latest issuers this week to take advantage of rising short end dollar swap spreads, mandating for deals on Wednesday after Finland printed a short dated deal of its own.
-
-
The African Development Bank was unable to tighten pricing from guidance on its first benchmark of the year on Wednesday, which bankers away from the deal put down to a difficult market backdrop.
-
The SSA market has seen a steady stream of activity across the euro and dollar markets this week. The European Stability Mechanism priced the week’s biggest deal on Tuesday, printing €4bn in 10 and 40 year tenors. Meanwhile African Development Bank led the charge in dollars, preparing to print a $1bn no-grow in its first benchmark deal of the year.
-
The African Development Bank is set to bring its first benchmark of 2016 in what is proving to be a quiet week for dollar deals.
-
This week's scorecard looks at the funding progress of supranationals so far in 2016.
