Nederlandse Waterschapsbank

International Finance Corp sold the first Kauri bond in more than two months on Thursday, while in the Kangaroo market a pair of European agencies tapped a pocket of demand further down the curve.

The State of North Rhine-Westphalia and Nederlandse Waterschapsbank rebooted the long of the euro SSA curve on Wednesday with well subscribed deals and minimal new issue premiums.

The State of North Rhine-Westphalia and Nederlandse Waterschapsbank will be the first two public sector borrowers to test investors’ appetite for euro deals in the long end of the curve following the summer break.

While bankers in the Northern hemisphere plan well-deserved summer breaks, the Australian and New Zealand dollar markets are set to remain open for business, with some competitive pricing on offer.

This week's funding scorecard looks at the progress of Europe's supranationals and agencies towards the end of June.

Finland’s Municipality Finance returned to the domestic New Zealand dollar bond market on Friday after a long absence, to raise its largest Kauri bond since 2008.

Dollars was the favoured currency for public sector borrowers for the second week running this week, giving attractive funding conditions for euro borrowers amid strong investor demand, particularly in the 10 year part of the curve.

Belgium took advantage of more attractive funding conditions in dollars versus euros and strong demand at the 10 year point of the curve to sell its first dollar bond since 2017 on Tuesday. SSA supply in dollars will continue on Wednesday with the Asian Infrastructure Investment Bank and Nederlandse Waterschapsbank bringing socially responsible deals.

Rating: Aaa/AAA

This week's funding scorecard looks at the progress of Europe's supranationals and agencies in early April.

This week's funding scorecard looks at the progress of Europe's supranationals and agencies at the start of March.

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, February 3. The source for secondary trading levels is ICE Data Services.