European Bank for Reconstruction and Development EBRD
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BMW issued the largest unsecured MTN of the year on Wednesday — outstripped in size only by a €700m privately placed covered bond from UniCredit, according to Dealogic. The trade was BMW’s largest since 2016. -
We have more multilateral development banks than ever before. They perform an invaluable job in a challenging and ever-changing world, but as they expand, and as new MDBs emerge, a fear is growing that they are being used as political tools by sovereign shareholders, keen to promote their own interests around the world. By Elliot Wilson
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European finance ministers are not keen on setting up a new development bank from scratch. They will instead start technical work on how to better streamline the operations outside the EU of the European Investment Bank and the European Bank for Reconstruction and Development.
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International lenders and the Loan Market Association (LMA) are worried about emerging markets’ nonchalance towards the end of Libor in 2021. Fears are mounting that local lenders, in particular, those in Africa, will be “hit by a juggernaut” when the benchmark rate is discontinued, writes Mariam Meskin.
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The European Bank for Reconstruction and Development (EBRD) focused “on price over size” but achieved both when it brought its third Sonia-linked floating rate note (FRN) to the market this week, according to one of its leads.
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The European Bank for Reconstruction and Development came to market on Wednesday with its fourth Sonia-based floater.
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The European Bank for Reconstruction and Development has been given authorisation from its board to start pre-funding for 2020, according to a funding official at the supranational.
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The European Bank for Reconstruction and Development has printed a pair of tightly priced currency linked notes, showing that investors are accepting lower yields in return for exposure to potential currency appreciation.
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This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the middle of October.
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Running in parallel with the rapid growth of the green bond market have been the numerous labels for these bonds. But the abundance of green labels risks confusing investors and diluting an important vehicle to finance projects to clean up the planet.
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