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◆ First KDB public sterling deal in seven years ◆ £250m bond could be first of many as issuer diversifies ◆ SSA transition ongoing, euros in focus for 2025
◆ KfW inches away from funding target ◆ Compressed market causing suppressed demand ◆ Undersubscribed book is 'telling you where the SSA market is'
Changes follow arrivals of Raghavan and Mangla from JP Morgan
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Investors would rather buy SSAs than covereds, say bankers
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Climate finance flows are too slow, says the head of one of Africa’s largest banks. Attracting large institutional investors and Middle Eastern sovereign wealth funds will be vital to speeding them up
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EBRD and IFC are readying inaugural deals and intend to be serial issuers
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◆ Swap spread moves help issuer's spread to US Treasuries ◆ No-grow deal many times covered ◆ Investors expecting rate cuts turning to short end yields
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◆ Deal priced at same spread as Baden-Württemberg ◆ Pricing in high-20s versus swaps is new reality ◆ Länder spreads versus KfW remain intact
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Innovations since 2023 have added $150bn to 10 year lending capacity, but full reform of MDB capital adequacy remains in future
Sub-sections
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
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