The Netherlands
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The torrent of ESG supply shows no sign of slowing. Inter-American Development Bank’s debut sustainable development bond is set to come to market on Tuesday in sterling, alongside a sustainability bond from Bank Nederlandse Gemeenten.
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Nederlandse Waterschapsbank (NWB) failed to reach full subscription for its 15 year water bond this week, with the lead managers having to step in to help the Dutch agency raise €500m. The issuer attributed the lack of demand to the weak eurozone economic data published during book building. -
Lead managers had to step in to help Nederlandse Waterschapsbank (NWB) raise €500m with a 15 year water bond on Monday, though a banker on the deal said that there had been strong demand for the transaction from ESG investors.
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A £285m block in Trainline, the UK the transport booking website, was covered quickly on Thursday night after a lock-up was waived on KKR and other pre-IPO shareholders.
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The Netherlands Development Finance Company (FMO) sold the first offshore Bolivian boliviano bond last Friday. The currency-linked bond was structured by the Currency Exchange Fund (TCX), of which FMO is a part owner, and is part of a wider push to develop frontier capital markets.
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Dutch insurers Achmea and ASR Nederland gave investors a rare chance to pick up Restricted Tier 1 (RT1) notes this week, with the latter having gone the extra mile to strengthen liquidity in its existing bonds.
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Nederlandse Waterschapsbank has selected banks for a €500m 15 year no-grow water bond, in what will be its longest ever maturity for a green bond.
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The Netherlands Development Finance Company debuted the first offshore Bolivian boliviano bond last Friday. Meanwhile on Monday, French agency Caisse des Dépôts et Consignations again returned to the ultra-long end to place a pair of callable euro notes.
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ASR Nederland has asked its bondholders for permission to increase the size of its only restricted tier one (RT1) from €300m to €500m — a move that the Dutch insurer hopes will increase the ‘tradability and liquidity’ of the subordinated debt instrument.
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Two of the largest shareholders in Fagron, the Belgian pharmaceutical and medical products company, have sold half their stake in the company for €84m via an unusual block trade that was placed with a single US long-only investor.
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De Volksbank was three times subscribed for its debut green bond this week, despite not offering much in the way of yield or new issue premium to its investors.
