Rentenbank

The week commencing May 8 brought a wave of public sector borrowing. The victory of Emmanuel Macron in the French presidential election caused a wave of relief and signalled a blazing green light for issuance. See how the deals fared on GC BondMarker.

Public sector borrowers in the euro market on Thursday focused their attentions on the long end of the curve, but not every trade made it to full subscription.

The European Financial Stability Facility has sent requests for proposals for a trade next week, as a pair of rare issuers on Wednesday placed deals flat to or through fair value in a euro market buoyed by Emmanuel Macron’s election as French president last weekend. Longer dated trades — of which the EFSF has sold several this year — also look to be back on the table for borrowers.

This week's funding scorecard looks at the progress European supranationals and agencies have made at the start of the second quarter.

This week's funding scorecard looks at the progress European supranationals and agencies have made during the first two months of the year.

The Province of Ontario and Rentenbank tapped bonds at the long end of the Kangaroo curve this week, while the Asian Development Bank (ADB) mandated banks for a new Australian dollar bond.

The prospect of a far-right leader becoming president of France rocked government bond markets this week. It led to a rare pulled French agency deal and will cause the country’s banks problems with their own huge funding needs. But as other issuers in eurozone countries facing elections showed, the picture of the risks ahead is complicated. Craig McGlashan reports.

The market for public sector euro issuers is springing back to life after a quiet week, with two benchmarks printed on Monday and a sovereign dual tranche expected on Tuesday. But although traffic is returning, conditions are no longer as supportive as in January.

This week's funding scorecard looks at the progress European supranationals and agencies have made during the first three weeks of the year.

The Nordic Investment Bank and Rentenbank brought sterling deals on Monday, adding to a busy start to the year for a market that has retained stability despite currency fluctuations around the latest speculation on Brexit.

Rentenbank added a A$475m ($349.6m) tap to its September 2022 Kangaroo bond, joining the Asian Development Bank and Inter-American Development Bank in printing Kangaroo fives in the new year.

Several European sovereign, supranational and agency borrowers this week published funding targets for 2017. Many will be looking for more funds than last year, despite markets likely to be wracked with political risk.