The Netherlands
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Shares in ForFarmers, a Dutch animal feed cooperative, began trading on Euronext Amsterdam on Tuesday May 24, after a quasi-IPO in which the privately traded shares were relisted on the public market. -
ABN Amro printed the first FIG green bond of the year at a level flat to its senior curve on Monday, as investors showed keen interest in the new issue.
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NIBC has mandated leads for a 10 year conditional pass through covered bond (CPT), the longest ever seen from a Dutch bank. The issuer follows Aegon Bank which last week saw exceptionally strong demand for its €500m seven year.
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The European Financial Stability Facility is the biggest confirmed name for euro issuance next week, with a wide variety of trade options open to it, according to bankers.
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There was a steady stream of sterling deals in the supranational and agency market this week, amid confidence that volumes will keep up until the UK’s referendum on European Union membership is imminent.
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Caja Rural de Castilla-La Mancha this week issued the first Cédulas in more than two months and swept aside concerns that peripheral issuers would need to pay lavish new issue concessions.
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Nederlandse Waterschapsbank showed the bid for duration in euros is alive and well, after a rapid book build on Thursday on its debut 20 year euro syndication, while a French agency lined up a dual tranche deal.
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Shares in Van Lanschot, the Dutch investment bank that is transforming itself into a pure wealth manager, have traded fairly stably as its ‘re-IPO’ has been announced and got under way this week.
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Export Development Canada is set to join what one SSA banker described as a “ridiculous” dollar market, where issuers are selling in big size and with little or no new issue premiums.
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Export Development Canada sold its largest bond in sterling in over two years on Wednesday as investor appetite for the currency showed little sign of abating.
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A slumbering euro market for core issuers kicked into life on Wednesday, as Nederlandse Waterschapsbank looked to take advantage of a strong bid for duration and the European Financial Stability Facility sent out a request for proposals for its deal window next week.
