The Netherlands

The primary covered bond market is expected to be active next week with four or five deals potenitially surfacing, in addition to the five being actively marketed. But non-eurozone bonds are being better offered, and the global interest rate outlook is becoming less accommodative.

Dutch insurance firm Vivat will use the proceeds from its new €650m senior bond to pump restricted tier one capital into one of its subsidiaries. Investors demanded a premium for the intra-firm financing. But the structure could curry favour with regulators under Solvency II, and may open opportunities for other insurers looking to optimise their capital structures.

Shares in Koninklijke VolkerWessels, the Dutch construction and engineering company, had risen 3.8% by lunchtime when they began trading in Amsterdam on Friday, after the company's €575m IPO had been priced at €23 a share.

Rabobank plans to roadshow its debut covered bond next week, while Banco Comercial Portugues will begin marketing a deal after an eight year absence. And after publishing an offering circular this week, Bank Queensland (BOQ) is expected to announce its first deal soon.

Rabobank has mandated leads to take its debut covered bond on the road. Covered bonds will improve Rabobank’s net interest margin and help diversify its investor base, the bank’s global head of long term funding, Sjaak-Jan Baars, told GlobalCapital.

Dutch insurance firm Vivat was looking to sell a new seven year senior transaction to investors on Wednesday, in an unusually structured deal that could open up opportunities for other insurers looking to optimise their capital costs.

Nederlandse Waterschapsbank will add a new item to SRI investors’ menu, after mandating banks on Wednesday to run a roadshow for a debut affordable housing bond.

The victory of Emmanuel Macron in France's presidential election opens wide the window between now and the UK general election for IPOs to be done. The block trades market is also strong, with several large deals completed so far this week.

KfW has sold the largest ever new green bond issue from a supranational or European agency, printing flat to its curve with a green deal for the first time and drawing a remarkably high level of Asian investor interest for a euro trade. More SRI issuance is on the way, after Dutch agency FMO announced a sustainability bond roadshow.

The IPO of VolkerWessels, the Dutch construction and property development company owned by the Wessels family, achieved coverage on its full deal size by Wednesday morning, two working days into the bookbuild.

Bank Nederlandse Gemeenten has tapped a 10 year Australian dollar bond twice in a week, raising A$155m ($116.7m) from central Asian and Japanese investors.

Nederlandse Waterschapsbank tapped a 24 year line for €250m on Tuesday.