EIB

The European Investment Bank announced its first euro benchmark of the year on Wednesday, looking to take advantage of a super strong backdrop and avoid an expected heavy pipeline of supply next week.

The dollar SSA market leapt into action on Tuesday with an impressive deal from the European Investment Bank. Two more are set to follow on Wednesday, including a 10 year benchmark.

The European Investment Bank made a blazing start on Monday in tackling its 2021 borrowing programme, hitting the Australian dollar and sterling markets on Monday, and lining up a dollar deal for Tuesday.

The European Investment Bank became the first borrower to tap the sterling market in 2021 on Monday, while KfW is set to follow on Tuesday. While the opening deal went well, the issuers had to contend with some sharp volatility.

The V20 group of finance ministers from countries especially vulnerable to climate change has prepared a Climate Prosperity Plan — analogous to a green new deal — which it hopes will help member countries devise 10 year investment plans to recover from Covid-19 while becoming more climate-resilient.

Hungary has no plans to issue wholesale bonds in foreign currency markets next year, having raised more debt than expected in euros and yen in 2020.

This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the end of November, with some issuers also setting their targets for 2021 and starting pre-funding.

Film buffs recognise that sometimes a sequel can be better than the original. Perhaps it does not have the same novelty, but scriptwriters can move on from establishing the back story to delivering a movie with wider appeal.

Italy returned to the private placement market to print one of the year’s largest MTNs on Thursday. The deal stood out this week, since issuance in the market has started to wind down ahead of Christmas.

The European Investment Bank hit screens on Monday afternoon to announce what will be its final benchmark deal of the year, with the issuer set to use every inch of its €70bn borrowing authorisation for 2020.

This week's funding scorecard looks at the progress supranationals have made in their funding programmes in mid-October.

The Council of Europe Development Bank (CEB) took advantage of a strong market on Wednesday to issue its first ever benchmark transaction for pre-funding purposes.