The Netherlands
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ASR Nederland picked banks to arrange the sale of a restricted tier one (RT1) note in euros on Thursday, becoming the first insurance firm to look at issuing the rare debt format in a core currency. -
Nationale-Nederlanden Bank (NN Bank) issued its first covered bond flat to fair value, yet still managed to achieve a subscription ratio higher than any other Dutch covered bond in at least five years.
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National Bank of Greece (NBG) has appointed leads to market its first covered bond since the Greek sovereign crisis. Meanwhile, Nationale-Nederlanden (NN Bank) has signalled its intention to press ahead with its debut deal following its recent roadshow.
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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 from a beer producer was the only deal in the market on Friday.
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Deutsche Bank has named a former ING bankeras head of corporate finance for the Benelux region.
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Finnvera will on Wednesday enter a searing market for three year dollars, following a similar trade from Bank Nederlandse Gemeenten that rounded off the Dutch agency’s dollar benchmark funding for the year.
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US machinery manufacturer, John Deere, returned to the euro corporate bond market on Tuesday, selling its second deal in September. The €500m five year deal was issued by the company’s John Deere Bank entity.
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Bank Nederlandse Gemeenten has opened dollar proceedings for the week, mandating for a three year trade as swap spreads in the tenor hit their highest level in months. Other issuance in the currency could come from European Investment Bank, which has been rumoured to be considering a deal for a few weeks.
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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.
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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.
