Medium Term Notes and Private Placements

Belgium is set to bring a private dabbling in ultra-long debt issuance into the public sphere, as it mandated on Wednesday for a debut 50 year euro benchmark a week after placing its second 100 year medium term note.

Issuers are meeting investors' yield demands by printing long end private placements. One German state sold its longest ever bond on Tuesday and more sub-sovereigns from the country are likely to follow, according to market participants

Agencies could be ready to enter the dim sum MTN market which, in contrast with the silent public market, is in good health.

Bank Nederlandse Gemeenten stormed into a quiet European market for private placements on Monday with one of its largest euro MTNs in years.

The volume of public sector MTN issuance plunged 39% year on year in 2016’s first quarter, according to a Dealogic report. Europe's yield environment is partly to blame for the drop, say market participants.

Ireland has become the latest issuer to join the exclusive club of century bond issuers, after printing a 100-year note via private placement, the country’s National Treasury Management Agency said on Wednesday.

Three large Brazilian real denominated MTNs issued by Export-Import Bank of Korea (KEXIM) indicate that Brazilian investors are making a tax play, according to bankers.

Ireland used a private placement to sell its first ever 100 year note, the country’s National Treasury Management Agency said on Wednesday.

The pace of borrowing in offshore renminbi is accelerating, but public markets remain closed, meaning MTN issuance is dominating in the currency.

The International Finance Corporation sold on Wednesday the longest-dated Masala bond ever. The supranational also believes other issuers could be about to enter the market.

Public sector borrowers from the eurozone periphery are preparing a flurry of issuance in the next few days, with one still smarting from a change to its rating outlook late last week.

ABN Amro has picked a former BNP Paribas banker to head its MTN private placement desk.