The Netherlands
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The long end of the Kanga curve saw action this week, as Japanese investors hunted for yieldy paper. -
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.
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Human resources company Randstad will draw down on its existing credit facilities to fund its acquisition of Monster Worldwide, a recruitment service connecting employers and potential employees. The $429m merger could mark the end of a highly acquisitive period for the Dutch group, as the company vowed to limit further M&A spending.
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The Netherlands Development Finance Company (FMO) sold a ZK104m ($10.3m) five year note to a single investor on Monday.
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Cloetta, the Swedish confectionery company, has agreed Skr3.7bn ($430m) of unsecured loans with a group of four Nordic banks, its first ever syndicated loan.
