Supranational, Sovereign and Agency Borrowers Roundtable (November 2024)
Political and economic uncertainty, quantitative tightening and new supply expectations weighed on the SSA sector in 2024, pushing spreads wider versus swaps throughout much of the year. With Donald Trump returning to the White House and questions over France and Germany’s political and economic direction, the coming year is unlikely to be smooth sailing for SSA issuers. To discuss the main trends and developments this year and their expectations for 2025, GlobalCapital convened a roundtable of leading SSA borrowers and an investor involved in this critical market.
Roundtable participants
| Rui Amaral, board member, Treasury and Debt Management Agency, Portugal (IGCP) |
| Karol Czarnecki, director, public debt department, Ministry of Finance, Poland |
| Francis Dassyras, team lead – funding, European Stability Mechanism |
| Andrea Dore, global head of funding, World Bank |
| Christian Engelen, head of unit, borrowing and lending, Directorate-General for Budget, European Commission |
| Jörg Graupner, senior funding manager, treasury, KfW |
| Ales Koutny, head of international rates, Vanguard |
| Maric Post, director, treasury and capital markets, Belgian Debt Agency |
| Patrick Seifert, managing director – head of primary markets and global syndicate, LBBW |
| Richard van Blerk, deputy head of benchmark funding, European Investment Bank |
| Moderator: Ralph Sinclair, London bureau chief, GlobalCapital |