Home MARKETS Currencies EIB taps South African rand twice in a week

EIB taps South African rand twice in a week

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The European Investment Bank (EIB) tapped South African rand twice this week, amid rising yields in the currency. Elsewhere, the International Finance Corporation (IFC) and World Bank both sold three lots of offshore renminbi, and Nordic Investment Bank (NIB) returned to Hong Kong dollars.

The EIB tapped its February 2023 South African rand line for R500m via BNP Paribas ($35.2m) on Wednesday, following a R250m tap of its July 2022 line via TD Securities on Tuesday.

The bond tapped on Wednesday carries a coupon of 7.25% and the tap price was 95.96. It takes the

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