The Netherlands
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Nederlandse Waterschapsbank tapped a A$355m ($266.6m) 3.15% September 2026 Kangaroo bond on Wednesday for A$55m. -
Koninklijke KPN, the Dutch telecoms company, on Tuesday boosted the size of an initial €1bn offering after books were five times covered despite competing against three other borrowers for investors’ attention.
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A trio of issuers on Tuesday mandated for dollar deals across the shorter end of the curve, as underlying US Treasury yields stayed slightly elevated after last Friday’s meeting of central bankers in Jackson Hole.
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The long end of the Kanga curve saw action this week, as Japanese investors hunted for yieldy paper.
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Nederlandse Waterschapsebank has pushed the funding boat out in euros, by selling a rare 50 year MTN.
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Bank Nederlandse Gemeenten has tapped a June 2024 line, managing to print €400m despite offering a negative yield. Land NRW will sidestep the negative yield problem on Thursday by moving out the curve.
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OCI Nitrogen, the subsidiary of fertiliser giant OCI, has signed a €550m credit agreement with 17 banks, 10 of which are new lenders.
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Gunvor Petroleum Rotterdam, part of Gunvor Group, has secured a $200m project finance loan to develop is refineries and infrastructure.
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ING has made a pair of appointments to bolster its equity capital markets business.
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August has been a volatile month in recent years, with the Chinese devaluation last summer and a flare-up in Greece's debt crisis. Yet so far indices have remained stable this time. Stability could also be torpor if primary activity is anything to go by. Just a handful of small European deals in progress show a market in the full grip of the summer slowdown.
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NRW.Bank will on Tuesday become the latest public sector borrower to enter a super strong dollar market that shows no sign of shutting down for the summer, after the German agency mandated banks on Monday.
