Kommuninvest

A conveyor belt of dollar benchmarks from SSAs passed quality control this week despite tough background conditions. But there are signs issuers are following those in euros by boosting concessions.

Kommuninvest and KfW found good demand for short dated dollar benchmarks on Thursday despite difficult market conditions.

World Bank on Wednesday sold the largest dollar benchmark from an SSA since July, as other issuers lined up deals in the currency.

The increasing attractiveness of euros over dollars has led one public sector borrower to mandate for its first ever benchmark in the currency — and more debut issuers could follow.

A new Norwegian krone line from KfW and a tiny Kangaroo tap from Kommuninvest made it to market this week despite difficult external conditions.

This week's scorecard features updates on the funding progress of Scandinavian agencies.

Public sector borrowers have been seizing opportunities in the private medium term note market this week, following a burst of demand for short dated paper.

Export-Import Bank of Korea (Kexim) launched its largest ever Kangaroo this week, while a trio of rare SSAs tapped the Kanga long end. And more deals in the long dated part of the curve are on the way, say niche currency bankers.

An Asian agency is finding plenty of appetite for a bond in the belly of the Kangaroo curve, as niche currency bankers said there is also a smattering of interest for the format at the long end.

Public sector borrowers are snapping up opportunities in the medium term note market, as Greece’s bail-out negotiations and imminent US non-farm payroll data stifle syndicated supply.

Swedish local government lender Kommuninvest has printed its first Turkish lira bond since 2011, following its re-approval of the currency for issuance.

World Bank is targeting Italian retail investors with its latest ethical index linked green bond.