Sovereign, supranational and agency issuance volume of privately placed medium term notes hit a seven year low in 2014 and such declining figures could characterise MTN volumes this year as well, as tightening yields push investors down the credit curve toward banks and corporates issuing in the format.

FMS Wertmanagement tapped a 2018 sterling line on Monday, following a host of private placements in the currency from other euro funding issuers taking advantage of a favourable cross currency basis swap.

NRW.Bank found demand to increase its largest ever sterling private placement, sold this week, and it is up for more deals in the currency.

KfW has sold a rare, privately placed note with a step-up inverse floating rate structure, which dealers said could be a sign of other similar trades to come.

The Spanish Autonomous Community of País Vasco may issue its first public bond in over five years in 2015.

KfW has sold a rare privately placed note that carries a step up inverse floating rate structure.

German insurance companies and pension funds are looking at longer and longer tenors as they hunt for return in Europe’s low yield environment. World Bank was able to satisfy some of this demand with a 50 year callable zero private placement and more such long dated callable zeros could be on the cards.

The Community of Aragon has become the second Spanish region to bring a deal to the capital markets since European Central Bank president Mario Draghi made dovish comments late last week. And with the Spanish sovereign’s yields hitting record lows this week, there could be more sub-sovereign action before the year is out.

A cost saving measure from the French government could mean that the French sub-sovereign debt market could be unrecognisable in a few years.

Mariam Abraham, a medium term note and private placement dealer at Rabobank International in London, left the bank last week, GlobalCapital understands.

France’s Région Bretagne has revisited the medium term note market following its debut in the format last week. The deal comes at a time of uncertainty for many regions in France as the government redraws the country’s administrative map.

MTN issuance in Africa could be set for a boom over the next six to 12 months, as dealers receive an increasing number of reverse enquiries.