Nomura
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Danish agency scored largest ever book and at a tight spread to US Treasuries -
Deal sets a pricing benchmark for SSA dollar green bonds in 2024
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Two other German SSAs bring deals on same day
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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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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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A pair of German development banks also brought new issues on Tuesday
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IADB, DBJ and CPPIB all grabbed large order books
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Japanese agency sets sight on euro and green issuance from April
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Supranational takes $1.5bn from latest syndicated sale after peer success in recent weeks
