GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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KfW

  • SSA
    KfW and the African Development Bank both sold long 10 year Kangaroo debt on Wednesday, with the former opening a new line and the latter tapping its outstanding bond. KfW was able to reach a wider investor base than recent 10 year Kangas owing to its strong reputation in the market. Export Development Canada also took the opportunity to increase its five year Aussie dollar bond.
  • SSA
    KFW began bookbuilding for a new long 10 year Kangaroo bond on Tuesday, looking to secure demand from Japanese investors focusing on the far end of the curve. Export Development Canada is also selling new Kangaroo debt, opting for a five year maturity.
  • SSA
    German development bank, KfW is set to price on Tuesday, the biggest ever seven year global dollar bond away from issuance by US GSE borrowers. The issuer will price a $3bn deal in line with guidance. Two other SSA borrowers tapped shorter maturities in the currency.
  • There may have been the odd stinker of a deal this year but it is hard to fault SSA borrowers as a group. They went after the money this year with aggression, front-loading programmes and bringing some spectacular deals. Some market watchers were looking forward to the autumn issuance season being something of a repeat of the first three months of the year, but it does not look like that will happen. And that is a good thing.
  • SSA
    Supranationals and agencies placed a flurry of Kangaroo deals this week, as the market showed no sign of calming after a busy month.
  • SSA
    Finland has hired five banks to run a five year syndication, making it the first borrower to tackle a new euro benchmark in the belly of the curve since the summer break. KfW, meanwhile, priced an oversubscribed 10 year on Tuesday afternoon while Rentenbank got a short dated print away.
  • SSA
    Ahead of an expected flood of issuance kicking off in the last week of August, here are the updated funding scores for selected European supranational and agency borrowers.
  • SSA
    KfW is looking at opportunities at the long end of the euro curve for early September, in order to dodge potential uncertainty arising from the German federal elections and the next Federal Reserve Open Markets Committee meeting. The issuer is also mulling the possibility of a 10 year Kangaroo bond in order to take advantage of Japanese investors returning to the Australian market.
  • SSA
    A bevy of issuers looked to print dollar floaters on Wednesday and Thursday, as Federal Reserve chairman Ben Bernanke’s congressional testimonies on both days made markets too risky for issuers to attempt a fixed rate benchmark. But as Bernanke’s dovish testimony appeared to mollify markets, the era of floaters could come to an end next week.
  • SSA
    Province of Ontario and KfW brought heavily oversubscribed dollar benchmarks at the short end of the curve on Tuesday afternoon, proving that there is demand for issuers in dollars if they are willing to pay a concession.
  • SSA
    Province of Ontario and KfW mandated banks for dollar benchmark on Monday afternoon. If the deals are met with a strong response, they could encourage other issuers to look to sell dollar issues next week.
  • SSA
    Following an unexpectedly heavy week of issuance from European supranationals and agencies, here are the updated funding scores for selected borrowers in the category.