◆ The 'marginal madate': it seemed like a good idea at the time
◆ GlobalCapital's new columnist, Craig Coben
◆ World Bank boosts lending capacity

What do you do when that mandate you accepted in a quiet market to keep busy is still lurking about, taking up time and energy, when the market has picked up and juicier deals are to be done?

Is extending balance sheet to clients as a second tier firm when the top tier won't anything other than an exercise in futility in the long term?

GlobalCapital's new columnist and capital markets veteran Craig Coben joined us to discuss these very matters and more.

Meanwhile, we have an update on the fast developing situation with the capital of multilateral development banks, the not so secret weapon in their campaign to increase their lending to the developing world.

Also, hear from our sponsors, KfW, about their latest advance into blockchain-based digital bonds.

◆ Supranationals speak on callable capital
◆ Bank funding: pricing reset
◆ The demise of the cornerstone investor

As the great and the good of the development finance world gathered in Washington, DC for the World Bank/IMF Spring Meetings, multilateral development banks published details about their callable capital, the next vital step along the way to powering up their lending to solve some of the planet's most urgent problems. We digest what they said and why it matters.

In the FIG bond market, issuers decided to postpone new issues as rates volatility gripped the market. We figure out when they will be back and how much extra they will have to pay for the funding.

Finally, equity capital market experts think the IPO revival is strong enough to do away with cornerstone investors. And what do the cornerstones think of that? Listen in to find out (spoiler alert: they're not exactly tearing up the paving stones over it).

◆ Why everyone from nuns to pro-coal US state treasurers are giving banks stick over ESG
◆ El Salvador's punchy new debt structure
◆ Appetite for duration in covered bonds

West Virginia: almost heaven unless you're on state treasurer Riley Moore's list of banks the state won't do business with over fossil fuel financing. But unlike most ESG-related exclusions, in this case opprobrium is reserved for financial institutions deemed to be anti fossil fuel.

Bank of Montreal has dodged making the list in a week where four others were added. But the pressure on banks to behave a certain way over ESG is mounting on both sides with some nuns in the US taking Citi to task over what they see as exploitation of indigenous people.

We look into what this means for banks picking a treacherous route to building their ESG credentials while trying to make money serving traditional clients. We also examine what investors in their bonds think.

Investors had another tricky consideration to make this week as El Salvador issued a funky new structure as it looks to beat its debt distress. We examine the new bonds and what the market reaction to them.

Finally, we discuss the growing appetite for long dated covered bonds.