EIB

Caisse d’Amortissement de la Dette Sociale (Cades) will add a new point on its dollar social bond curve with a 10 year trade on Wednesday, where it will be joined by two other public sector issuers in the currency.

It has been a year of tumult in the capital markets but you would not know that from examining the results of the European Investment Bank’s funding programme in 2020 and comparing it to 2019.

Bank Nederlandse Gementeen kicked off a busy week for socially responsible bond issuance by public sector borrowers with a well-received 12 year sustainable bond, its longest ever deal in that format.

A €100m fund launched this week aims to leverage as much as €4bn from private investors and other sources to close a financing gap cities face in implementing infrastructure projects to tackle climate change.

The Asian Infrastructure Investment Bank and European Investment Bank have increased their 2020 borrowing authorisations. The former has upped their potential borrowing by half in response to the rapid take-up of its Covid-19 Crisis Recovery Facility.

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Caisse d’Amortissement de la Dette Sociale (Cades) and the International Development Association set new size records this week, with the former bringing the biggest ever social bond in dollars and the latter issuing its biggest ever bond since entering the capital markets in 2018.

French agency Cades and the International Development Association returned to the dollar market for the first time since the summer break on Tuesday to bring a pair of five year socially responsible deals.

French agency Cades will debut its social bond framework in dollars on Tuesday, less than a week after it raised the largest ever bond in the format with its inaugural issue in euros. It will share the market with the International Development Association (IDA), which is preparing to kick off its 2020/21 funding year with a sustainable development benchmark of its own.

The EIB kicked off the post-Labor Day SSA dollar market on Wednesday with a five year deal, it's third of the year. Oesterreichische Kontrollbank (OeKB) is set to follow, having mandated for its second five year dollar deal of the year.

The European Investment Bank hit screens with a five year dollar benchmark on Tuesday in what will be the latest in a series of European supranationals and agencies issuing bonds in this currency and maturity.

This week's funding scorecard looks at the progress supranationals have made in their funding programmes at the beginning of September.