Bank Nederlandse Gemeenten

International Finance Corporation (IFC) is expected to announce a five year dollar benchmark on Tuesday afternoon with Citi, HSBC and JP Morgan as leads.

Institutional investors focused on the long end of the Swiss franc curve this week ahead of upcoming sovereign, supranational and agency redemptions, which lead the European Investment Bank and Bank Nederlandse Gemeenten to tap well received outstanding deals.

Despite a recent rise in rates that has improved the outlook for SSA new issues, Bank Nederlandse Gemeenten’s Sfr100m tap of its 2.25% 2020 line on Wednesday puzzled bankers. Royal Bank of Scotland and Raiffeisen Bank closed the deal at mid-swaps flat, taking a line originally issued in 2005 to Sfr1.125bn.