The Netherlands
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The week started on a green note with ABN Amro issuing its fourth green bond on Monday. It was more than three times subscribed. On Tuesday, Erste Group also enjoyed favourable market conditions with demand at nearly 10 times its final books. -
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Bank Nederlandse Gemeenten (BNG) has cut its total funding requirement for the year.
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Bank Nederlandse Gemeenten became the latest public sector borrower to hit the long end of the euro curve on Wednesday and found strong demand, which allowed it to increase the bond.
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The Netherlands will sell its first green bond next month, via Dutch Direct Auction (DDA), with a maturity of 20 years, as it looks to become the first triple-A sovereign to print green paper.
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ABN Amro issued its fourth green bond on Monday, pushing its maturity curve out to 2026 in senior debt. The deal was subscribed more than three times over its size of €750m.
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Shares in Takeaway.com, the Dutch online food ordering market place, rose as much as 3.1% on Friday after Morgan Stanley completed a €212m delta placement of the stock as part of a funded collar transaction with Delivery Hero.
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It was a busy week for ING’s funding team, as they kicked off the quarter by issuing euro-denominated notes on Monday and a series of dollar bonds on Tuesday.
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Rating: Aa3/AA-/AA-
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The SSA green bond market looks set for a busy few weeks, with the Dutch sovereign and Instituto de Crédito Oficial (Ico) primed to print debuts following SNCF Réseau’s tapping its green paper on Thursday.
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Bank Nederlandse Gemeenten was upgraded by Fitch on Thursday, returning to triple-A status with the credit rating agency for the first time since 2015.
