NWB in the news

  • NWB EUR1bn 0.625% Jan 27

    • 12 Jan 2017
  • Euros fives booming but NWB struggles in 10s

    The belly of the curve appears to be the favoured spot in euros, with the European Financial Stability Facility selling a €3bn November 2022 and Agence Française de Développement announcing that it intends to bring an April 2022 on Wednesday. Further out in the curve, the market is proving less supportive.

    • 10 Jan 2017
  • Unédic and KommuneKredit kick off strong week in euros

    KommuneKredit and Unédic have both pulled off strong trades, getting in ahead of what is expected to be a busy week in euros by coming to market on Monday.

    • 09 Jan 2017
  • December flurry in sterling from European borrowers

    Three public sector borrowers tapped the sterling market this week in a late spurt of issuance driven by the basis swap and a move in outright yields and, with 2017 brimming with political risks, borrowers might be advised to look for opportunities in the currency next year.

    • 15 Dec 2016
  • NWB joins December sterling flurry

    Nederlandse Waterschapsbank has become the third European SSA to sell sterling this week, tapping a three year line for its second deal in the currency this year.

    • 14 Dec 2016
  • SSAs calm on Fed but US politics raise concerns

    The public sector market is awaiting the final big event of 2016 in the shape of the US Federal Reserve’s rate decision later on Wednesday. But while a US rate rise looks all but a certainty, some funding officials are anxious about the potential for volatility in the dollar market next year from a different source — politics.

    • 14 Dec 2016
  • SSAs look to 10 year bonds for Kangaroo funding

    The Inter-American Development Bank, a Canadian sub-sovereign and two Danish agencies offered chunky issuance to the Kangaroo market this week. The SSAs took advantage of Asian accounts looking to work their cash at the 10 year part of the Australian dollar curve.

    • 06 Oct 2016
  • Rare investor shows up for Dutch duo in 'Roo market

    Bank Nederlandse Gemeenten and Nederlandse Waterschapsbank were stunned by the scale of reverse enquiry for taps to their Kangaroo notes on Tuesday, with a rare Japanese investor driving both deals to double the size of any previous tap to their respective 10 year lines.

    • 04 Oct 2016
  • SSAs go tight in euros as duo line up deals

    A pair of public sector borrowers were able to sell tightly priced euro deals on Tuesday, with another two trades likely to follow on Wednesday.

    • 27 Sep 2016
  • SSAs go for the long and the short of it in euros

    A French agency is set to bring a euro benchmark in the shortest tenor seen since the end of the summer, while a Dutch agency is about to sell its longest dated syndication ever in the currency.

    • 26 Sep 2016
  • NWB nips in with Kanga tap

    Nederlandse Waterschapsbank presented a Kangaroo tap to an expectant Japanese investor on Friday.

    • 16 Sep 2016
  • Funding scorecard: European supranationals and agencies

    This week's funding scorecard looks at the progress European supranationals and agencies have made with their funding programmes.

    • 16 Sep 2016
  • SSAs power through dollars, as demand tipped to continue

    After another week of a super solid dollar market, public sector bankers are starting to refer to the currency as “darling” — and all the signs suggest that the relationship is set for an extended honeymoon.

    • 01 Sep 2016
  • NWB USD1bn 1.125% Sep 19

    • 01 Sep 2016
  • ‘Darling’ dollar mart brings home orders for SSA trio

    The dollar market is set to remain the “darling” — in the words of one syndicate banker — currency in the coming weeks, after a trio of strong deals on Wednesday.

    • 31 Aug 2016
  • NWB clips a Kanga

    Nederlandse Waterschapsbank tapped a A$355m ($266.6m) 3.15% September 2026 Kangaroo bond on Wednesday for A$55m.

    • 31 Aug 2016
  • Negative yields no barrier to strong SSA market

    Investors are lining up to pour cash into the public sector primary market, with deals in dollars and euros gathering big books — even when offering negative yields.

    • 31 Aug 2016
  • SSAs line up dollar deals in ‘extremely well bid’ market

    A trio of issuers on Tuesday mandated for dollar deals across the shorter end of the curve, as underlying US Treasury yields stayed slightly elevated after last Friday’s meeting of central bankers in Jackson Hole.

    • 30 Aug 2016
  • How low can euro go? SSAs to rip up plans

    A dance of low yield limbo is forcing public sector borrowers to rewrite their autumn funding plans as crushed rates have made the short end of the euro curve all but inaccessible. Lewis McLellan reports.

    • 25 Aug 2016
  • NWB goes long with MTN

    Nederlandse Waterschapsebank has pushed the funding boat out in euros, by selling a rare 50 year MTN.

    • 24 Aug 2016

Dealer League Table NWB

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jan 2017
1 TD Securities Inc 766.68 2 29.91%
2 BMO Capital Markets 748.28 1 29.19%
3 JPMorgan 262.12 1 10.23%
3 Citi 262.12 1 10.23%
3 Barclays 262.12 1 10.23%

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Morgan Stanley 1,158.55 2 14.54%
1 JPMorgan 1,158.55 2 14.54%
1 HSBC 1,158.55 2 14.54%
4 Bank of America Merrill Lynch 1,018.09 1 12.78%
5 Danske Bank 662.83 1 8.32%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Goldman Sachs 3,533.69 6 12.02%
2 JPMorgan 3,387.74 5 11.52%
3 HSBC 3,118.62 6 10.60%
4 Citi 3,063.28 6 10.42%
5 TD Securities Inc 2,869.30 6 9.76%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Jan 2017
1 JPMorgan 3,111.53 5 17.78%
2 Bank of America Merrill Lynch 2,735.23 4 15.63%
3 HSBC 2,589.66 3 14.80%
4 LBBW 2,024.41 4 11.57%
5 Barclays 1,213.11 3 6.93%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 HSBC 8,562.94 16 11.90%
2 JPMorgan 7,530.41 18 10.46%
3 Barclays 7,389.83 18 10.27%
4 Bank of America Merrill Lynch 6,234.66 16 8.66%
5 Citi 4,953.38 17 6.88%