World Bank
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World Bank broke its size and order book record in the sterling bond market on Tuesday with a maturity that has become the new sweet spot in the currency for SSA borrowers. -
World Bank appointed banks for a December 2026 sterling bond on Monday. The issuer will be the third public sector borrower in the last week to access this part of the sterling curve in order to achieve a more attractive funding cost versus euros and dollars.
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A pair of supranationals have reopened Danish krone green bonds. Domestic interest in SSA paper has grown over the last year, with green issuance a primary driver.
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The World Bank made its first visit to the Rwandan franc market last week, place what Dealogic indicates is the first deal in the currency since 2015.
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The public sector debt market has had a superb start to 2020, breaking records right and left in defiance of geopolitical tensions that, in previous years, would have scuppered the market as it left the dock, writes Lewis McLellan.
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Catastrophe bonds issued by the World Bank have been positive for both investors and the countries receiving protection from the securities, according to one market veteran. The organisation’s activity in insurance-linked securities has been highly innovative but has also received criticism from some quarters.
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A pair of supranationals opened the Maple market with sustainability bonds this week. The Canadian green market is “going through a growth phase” as more and more domestic investors show interest in the product, according to bankers.
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The European Investment Bank and World Bank kept the strong momentum flowing in the euro public sector bond market on Thursday, hitting the sweet spot with 10 and seven year benchmarks, respectively.
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Emerging market borrowers’ growing appetite for capital market debt has increased the risks of a shock triggering a financial crisis, the World Bank has warned.
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Investors piled into the euro public sector bond market on Wednesday, allowing borrowers to achieve well subscribed order books and minimal new issue concessions for a range of maturities.
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The World Bank hit screens on Monday with a mandate for a new five year sustainable development Maple bond — its first public Canadian dollar issue since September.
