Goldman Sachs
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“Pretty much fair value pricing” for triple-A rated sovereign -
Well-funded SSA issuers take their time, but weak secondary performance worries bankers
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Supra has already completed 44% of its borrowing by the end of February
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Some market participants saw just 1bp of new issue premium in the deal
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Fair value is seen around high-20bp with more than 10bp of pick-up versus KfW
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The US bank picked one of its own senior bankers to run the busiest equity syndicate desk in EMEA
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Issuer has done nearly €3bn of its €10bn programme and may return in March
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Luxembourg-based supra leads Tuesday’s deals as EDC and Land NRW also enter market
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Vienna-based supranational hopes to maintain regular issuance as it plans to gradually fund more in coming years
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Multilateral development banks embark on learning curve of ‘extremely useful and powerful’ instrument
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New asset class firmly established as AfDB achieves the investor base and pricing it wanted, says treasurer
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A pair of German development banks also brought new issues on Tuesday
