NWB in the news

  • Inflation knocks shine off sterling SSA market

    A higher than expected UK inflation rate led to a sell-off in Gilts this week, a move that may put an end to what has been a remarkable run of traffic in sterling SSA bond issuance.

    • 23 Mar 2017
  • NWB joins sterling craze

    Nederlandse Waterschapsbank has become the latest in a string of public sector borrowers to turn to the sterling market.

    • 20 Mar 2017
  • Funding scorecard: European supranationals and agencies

    This week's funding scorecard looks at the progress European supranationals and agencies have made during the first two months of the year.

    • 03 Mar 2017
  • NWB USD1bn 2.25% Mar 22

    • 23 Feb 2017
  • Dollars: the swaps are on but (almost) nobody’s come

    The superlatives “fantastic”, “surprising to the upside all the time” and “huge tightening” were being thrown around about the public sector dollar market this week — the only missing ingredient appears to be supply.

    • 23 Feb 2017
  • NWB brings home dollars in enviable conditions

    Nederlandse Waterschapsbank on Thursday brought the solitary SSA dollar deal of the week, taking advantage of “fantastic” conditions to raise $1bn of five year cash.

    • 23 Feb 2017
  • NWB to revive dollar fives

    Nederlandse Waterschapsbank is set to bring the five year part of the dollar curve back to life for the first time in three weeks, after mandating banks for a March 2022 Reg S/144A deal on Wednesday.

    • 22 Feb 2017
  • 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

Dealer League Table NWB

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Mar 2017
1 BMO Capital Markets 996.84 2 22.73%
2 TD Securities Inc 869.64 3 19.83%
3 Bank of America Merrill Lynch 378.18 3 8.62%
4 HSBC 351.51 2 8.01%
5 SEB 336.67 1 7.68%

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 21 Mar 2017
1 Barclays 7,850.85 11 9.64%
2 BNP Paribas 7,280.82 10 8.94%
3 JPMorgan 6,400.12 9 7.86%
4 Citi 6,397.23 7 7.85%
5 HSBC 5,782.53 9 7.10%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 07 Mar 2017
1 JPMorgan 13,983.25 38 11.62%
2 Citi 12,835.76 34 10.66%
3 TD Securities Inc 9,199.65 20 7.64%
4 HSBC 8,885.36 22 7.38%
5 Deutsche Bank 7,825.80 21 6.50%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Mar 2017
1 Barclays 16,566.61 33 9.78%
2 JPMorgan 14,128.94 27 8.34%
3 Bank of America Merrill Lynch 12,288.23 26 7.26%
4 Credit Agricole CIB 11,879.83 26 7.02%
5 HSBC 11,124.72 31 6.57%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 38,272.69 159
2 Citi 31,489.91 112
3 Barclays 29,902.18 73
4 HSBC 27,124.22 95
5 Deutsche Bank 26,280.34 101