The Netherlands
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Heineken used the quieter end of the week in terms of issuance to price its second benchmark corporate bond issue of the year. The sixth benchmark issue of the year in Europe by a beer producer was the only deal in the market on Friday. -
de Volksbank opened a benchmark euro curve with a €500m senior offering on Thursday, testing the market’s appetite for short dated bonds in fixed rate format.
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Nationale-Nederlanden (NN Bank) has mandated leads to market its first covered bond, which will have an intermediate conditional pass-through maturity.
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EMEA's equity block trades market is keeping up its fierce pace this week, after last week notched up the highest tally of sales this year, at €5.5bn.
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ING raised €1bn of new 12 year non-call seven tier two bonds without paying any new issue premium on Tuesday, despite offering investors the chance to invest in a nearly identical deal earlier in the year.
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Femsa, the Mexican soft drinks and retail company, surprised some in the equity capital markets on Monday night when it sold €2.5bn of the stake in Heineken that it acquired when the Dutch brewer bough its brewery division in 2010.
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Another stellar week for equity block trades in EMEA finished on Thursday night with the launch of a €1.5bn sale of shares in ABN Amro by the Dutch government, making this the biggest week of the year for blocks in EMEA.
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Jefferies has opened an investment banking office in Amsterdam and has poached a team of bankers from Deutsche Bank to run it.
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Ahold Delhaize, the Dutch supermarket company, was the only IG corporate issuer to price a deal on Tuesday. But unlike the five triple-B rated issuers on Monday, the food retailer paid a single digit new issue premium.
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ASR Nederland, the Dutch insurer, has returned to full private ownership after NLFI, the organisation that manages the investments of the Kingdom of the Netherlands, sold its final 20.5% stake via an accelerated bookbuild on Wednesday evening that attracted over 150 investors.
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Monday saw five new corporate bond issues in Europe, but Ahold Delhaize was the only issuer to price a deal on Tuesday. Unlike the triple-B rated issuers on Monday however, the Dutch food retailer paid a single digit new issue premium.
