Cities and municipalities from Flanders are likely to build on the success of their first jointly guaranteed bond next year with further deals, according to syndicate bankers. The debut bond came a day before the Belgian sovereign announced its funding plans for 2014 on Tuesday.
The Flemish deal mirrors the structure of Joint Laender issues from Germany, with each region taking a share of the proceeds, which they will be responsible for repaying. French regions have conducted similar trades in the past, issuing twice as Collectivites Territoriales de France.
“There should be a