L-Bank

Read this week's funding scorecard to see which European supranationals and agencies are nearly done for the year, and which have already begun prefunding.

A pair of euro benchmarks in the belly of the curve fell short of full subscription on Tuesday, as a combination of tight pricing and the arrival of the European Stability Mechanism’s second ever benchmark on the same day served to dampen investor demand.

A pair of German agencies mandated for euro benchmarks this week ahead of an expected 10 year syndication from the European Stability Mechanism.

L-Bank is ready to make further strides into the burgeoning offshore renminbi market after achieving two market firsts on Thursday.

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.

Following an unexpectedly heavy week of issuance from European supranationals and agencies, here are the updated funding scores for selected borrowers in the category.

Several European agencies expect dollar floating rate private placements to be a popular source of funding in the summer months, as volatility in the global rates markets makes getting benchmarks away tricky.

This week's funding scorecard focuses on some of Europe's key supranational and agency borrowers. Forthcoming editions will bring updates from other French, German, Spanish and Scandinavian names.

Blow-out dollar deals by the European Investment Bank and Network Rail, which were priced on Wednesday afternoon, have demonstrated the rampant appetite for SSA paper. And now more issuers look set to take advantage of the conditions.

L-Bank priced a £250m December 2017 note on Wednesday afternoon, while the European Investment Bank also looked to sterling to raise funds in the belly of the curve, pricing a tap of January 2018 paper.

The Nordic Investment Bank (NIB) became on Wednesday afternoon the latest SSA name to attempt to borrow three year money from dollar investors. The supranational credit followed German agency, L-Bank, which priced its first dollar benchmark since April 2012 on Wednesday afternoon.

L-Bank took advantage of investor hunger for the safe haven of German issuers on Wednesday morning to print a €1bn five year at what the issuer, Baden-Württemberg’s development bank, says is the best pricing to swaps it has ever achieved for a euro benchmark of this tenor.