Nederlandse Waterschapsbank

Nederlandse Waterschapsbank and Finnvera are looking to pick up dollars in the short end to belly of the curve this week. Several other issuers are understood to be eyeing issuance in the currency to take advantage of strong demand.

A pair of mandates woke the SSA market on Tuesday following a sleepy summer for benchmark supply. FMS Wertmanagement is set to come in dollars and there will be euro supply from the Finnish sovereign — which also plans to sell a dollar benchmark later in the year.

SRI bonds have come a long way over the last 18 months, going from a somewhat esoteric asset class to being a must-issue for any agency that wants to show its commitment to green or ethical causes. But the level of demand on offer for NWB’s deal showcases how powerful the green label can be for investors.

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.

Nederlandse Waterschapsbank mandated banks on Monday to arrange investor meetings ahead of a possible debut socially responsible bond. The issuer will look to replicate the success of fellow Dutch agency FMO, which sold its first SRI deal in November.

This week SSA Markets provides funding updates on key European supranationals and agencies. Click here to find out which issuers have completed over half of their 2014 funding requirements.

The European Bank for Reconstruction and Development sold its first benchmark of 2014 on Tuesday afternoon, an aggressively priced five year dollar deal.

The European Bank for Reconstruction and Development picked a group of banks to launch its first benchmark of the year on Monday, as a pair of agencies announced smaller dollar mandates.

This week SSA Markets provides funding updates on key European supranationals and agencies as we near the end of the first quarter. Click here to find out which issuers have completed nearly half of their 2014 funding requirements.

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.

Nederlandse Waterschapsbank rounded out a solid run of dollar issuance on Thursday when it sold a new five year deal. Bankers away from the deal were impressed with the final size of the benchmark, NWB’s first in the currency in 2014.

Nederlandse Waterschapsbank will add to a spate of dollar issuance on Thursday, selling its first benchmark in the currency of the year. Strong responses to trades from the African Development Bank, Caisse des Dépôts et Consignations and Oesterreichische Kontrollbank on Wednesday bode well for the issuer.