The Netherlands
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Consumer goods company Unilever’s newest bonds recovered almost all the losses sustained after Kraft Heinz made — and then promptly withdrew — a $143bn takeover bid for the company earlier this week. -
Chinese digital map provider NavInfo has hit the syndicated loan market for €110m to fund its acquisition of a stake in a European target.
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Tonight, private equity firm Summit Partners, Avalon Holding and Javak Investments have hired Morgan Stanley and UBS to sell a 12.65% stake in Flow Traders, the Dutch market-making firm, after it released its fourth quarter earnings on Wednesday morning.
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Avantium, the Dutch 'renewable' chemicals producer, intends to raise up to €100m by selling new shares on the Euronext Amsterdam and Euronext Brussels by the end of the first quarter.
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The prospect of a far-right leader becoming president of France rocked government bond markets this week. It led to a rare pulled French agency deal and will cause the country’s banks problems with their own huge funding needs. But as other issuers in eurozone countries facing elections showed, the picture of the risks ahead is complicated. Craig McGlashan reports.
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Koninklijke Philips, the Dutch technology company, has sold a 17% stake in Philips Lighting, the electronics division it spun off in May 2016, for €608m, through a blow-out accelerated bookbuild that was covered in 20 minutes and attracted a large anchor order.
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Bank Nederlandse Gemeenten showed that investors in its dollar bonds are not overly concerned about an upcoming Dutch general election, as it priced a bond on Wednesday that was just $250m short of its record size in the currency. More public sector dollar supply is set for Thursday, after Asian Development Bank hired banks for a five year global benchmark.
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After nearly a month without 10 year benchmark covered bond supply, Dutch issuer Van Lanschot Bankiers returned to the market on Wednesday with a conditional pass through deal.
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ING successfully sold its first holding company level tier two since it changed its point of resolution last year, though new issue premiums have been rising and order books shrinking as European election fears set in.
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Political volatility in France has buffeted the euro market this week, leaving some public sector issuers floundering as government yield curves spiked. Other issuers have had no such troubles though, thriving amid the turmoil.
