European Investment Bank
European Investment Bank is one of the EU’s primary vehicles for achieving its sustainability goals and is therefore at the vanguard of European and global sustainable debt markets. The supranational tells KangaNews it aims to use this position to provide a blueprint for itself and others to implement ambitious sustainable-finance strategies.
Asian Development Bank (ADB) and European Investment Bank (EIB) delivered mid-January Kangaroo deals at a tenor – 10 years – that had been missing in the new-issuance market. Deal sources say Australian dollar pricing relative to core currency markets is still too wide to encourage more widespread sovereign, supranational and agency (SSA) issuance.
On 18 January, European Investment Bank (EIB) (AAA/Aaa/AAA) launched a new 10-year, A$200 million (US$154.2 million) minimum, Kangaroo transaction. Indicative price guidance for the forthcoming deal is 31 basis points area over semi-quarterly swap, equivalent to 31.2 basis points area over Australian Commonwealth government bond.
European Investment Bank (EIB) started Australian dollar deal flow for 2021 on 5 January, with a record-breaking climate-awareness bond (CAB) transaction. Deal sources say there are some new dynamics emerging which could support Kangaroo supranational, sovereign and agency (SSA) borrowers in 2021, though some of the factors which dragged on the sector in 2020 also remain.
SSA Yearbook 2020
The annual guide to the world's most significant supranational, sovereign and agency sector issuers.