Bank Nederlandse Gemeenten

Banco Espírito Santo reported a €3.6bn loss this week, but the Portuguese soveriegn looks safe from contagion. Its $4.5bn October 2024 from four weeks ago has tightened versus swaps since pricing.

Bank Nederlandse Gemeenten appealed to American and Asian investors with a dollar benchmark at the short end on Wednesday. Despite offering initial price thoughts flat to its secondary curve the issuer was able to attract enough interest from these investors to cover its maximum deal size before official bookbuilding began.

The Inter-American Development Bank drew healthy demand for a five year benchmark on Tuesday, brushing off concerns that the International Finance Corporation had sucked up most of the investor interest for triple-A paper in that maturity with a deal last week. Meanwhile, Dutch agency BNG mandated banks for a dollar deal at the short end of the curve.

This week's scorecard focuses on Europe's major supranationals and agencies, with most of the borrowers well advanced in their funding programmes as issuance begins to slow down for the summer.

Nederlandse Waterschapsbank priced a green bond on Thursday that was almost four times subscribed and came at a low concession to the issuer's curve. Another Dutch agency is exploring prospects in the market and expects to sell a debut deal later this year.

Bank Nederlandse Gemeenten took to Australian dollars with a pair of deals on Wednesday, selling an Australian dollar denominated Eurobond in the belly of the curve and a Kangaroo tap at the long end. Syndicate bankers expect more issuance in the currency as borrowers that are well advanced in their funding programme look to print opportunistic deals.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

Read this week's funding scorecard to see which borrowers are approaching the 75% mark in their funding for the year.

Bank Nederlandse Gemeenten and the International Finance Corporation added their names to the burst of dollar issuers to have hit the market over the past few weeks on Tuesday, printing tightly priced deals in the belly of the curve.

Bank Nederlandse Gemeenten and the International Finance Corporation hired for dollar benchmarks on Monday afternoon — the Dutch agency is sounding investors for a five year while the Washington supranational is looking to pick up tightly priced four year paper.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.