The Netherlands

ABN Amro issued the largest 15 year euro covered bond in a decade and priced it as Bund prices rallied to historic highs, igniting a search for yield.

Dutch dairy firm FrieslandCampina has completed the second ever green Schuldschein, increasing the deal by a third in syndication.

Delta Lloyd will announce on Thursday evening or Friday morning the take-up for its controversial rights issue, which was cut in size from €1bn to €650m after public protests from some investors. The exercise period ended at 2pm CET on Thursday.

ING paid a small to premium to shield itself from TLAC/MREL uncertainty on Wednesday, issuing an opco tier two bond with a new feature allowing the bank to convert the notes to holdco debt.

ABN Amro issued the largest 15 year euro covered bond in a decade on Wednesday with a well oversubscribed, high quality order book. The transaction which is expected to offer a yield of about 1%, was priced as Bund yields hit historic lows, igniting a renewed search for yield.

ING has taken up the challenge of printing debt amid uncertainty over the Netherlands’ approach to total loss absorbing capacity (TLAC) requirements, while primary FIG activity has ridden out a secondary market blip.

ArcelorMittal’s $3.015bn rights issue, as part of its $4bn debt cutting plan, was completed oversubscribed, the steelmaker said on Monday, despite the gloomy outlook for the European steel industry.

LeasePlan Corp, the Dutch car finance bank that recently struggled through tough bond market conditions to price a €1.55bn subordinated high yield deal to finance its takeover by a group of institutional investors, had a very different experience on Monday when its first senior bond issue since the takeover was a huge hit with investors.

AkzoNobel, the Dutch paints, coatings and chemicals company, issued a €500m 10 year bond last Friday that achieved a deeply negative new issue premium, as investors piled in ahead of the European Central Bank’s expected corporate bond buying programme.

The remarkable conditions in Europe’s corporate bond market since the European Central Bank trained its quantitative easing firehose on the market were clear again today when Federal Express, the US deliveries group, raised €3bn to finance its purchase of Dutch peer TNT Express.

German wind turbine manufacturer Nordex has become the first borrower to issue an accredited green Schuldschein, leading the way for more deals to come.

Rabobank has announced the sale of a €1bn portfolio of mortgages in a move that has pre-positioned the bank for tougher Basel IV regulations. By the time the rules are in force in Europe though, they may look different, especially for countries that are heavy users of covered bonds.