European Bank for Reconstruction and Development EBRD

The European Bank for Reconstruction and Development on Wednesday became the third public sector borrower to issue an inaugural Sonia-linked bond in 2019, with the deal marking the borrower’s largest sterling bond to date.

The dollar market for public sector borrowers begins in earnest on Wednesday with a pair of borrowers out with benchmarks and bankers confident the deals will go well thanks to a demand/supply imbalance. The trades follow a small floater tap from a supranational on Monday that was the first syndicated deal of the year in the currency.

The European Bank for Reconstruction and Development on Thursday nipped in front of an expected glut of euro supply next week and was rewarded as it increased a green bond from its original size target and tightened pricing.

Rating: Aaa/AAA/AAA

The European Mortgage Federation-European Covered Bond Council (EMF-ECBC) has set out a definition of an energy-efficient mortgage which should enable ‘a quick roll-out’, according to the European Commission.

Public sector borrowers could look to join the European Bank for Reconstruction and Development in pre-funding for 2019 if the market backdrop — such as volatility in the Italian government bond market — improves, said SSA bankers.

The European Bank for Reconstruction and Development returned to the sterling market on Tuesday to sell the first benchmark of its 2019 funding programme.

The European Bank for Reconstruction and Development issued the first benchmark of its 2019 funding programme on Tuesday. The supranational has kickstarted its borrowing for next year to take advantage of the current market conditions. Other SSAs who have completed or are approaching the end of their borrowing programmes for the year should consider following.

The European Bank for Reconstruction and Development has started borrowing for next year after completing its 2018 funding requirements.

Uzbekistan has got its first infrastructure financing from the European Bank for Reconstruction and Development for almost a decade, as it starts to reap the rewards of its Development Strategy.

Belarus’s state-owned BeIinvestbank is in talks to raise a €50m syndicated loan, in a rare international deal for the country.

There is little demand for another public sector issue referenced to Sonia, the preferred alternative to sterling Libor, in the wake of the European Investment Bank's successful deal in June, a senior SSA portfolio manager said this week.