The Netherlands
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Heineken has been making up for lost time in public debt markets, issuing its second bond of the year on Tuesday, after being absent since 2013.
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Heineken has been making up for lost time in public debt markets, issuing its second bond of the year after being absent since 2013. -
Shares in Delta Lloyd, the Dutch insurance company, fell 10% on Monday after it announced a €1bn rights issue to strengthen its solvency as it plans for new EU insurance regulation. By Thursday, they were 29% down.
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ABN Amro targeted sterling for a £300m six year senior bond on Monday, pricing more tightly than could have done in euros, according to rival bankers.
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The Dutch government has opened the selection process for banks to lead the IPO of ASR Nederland, the life and non-life insurance company nationalised in October 2008. The plan is to float a 30% to 50% stake in the company in the first half of 2016.
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Aegon Bank issued its first covered bond on Tuesday, a €750m five year conditional pass through (CPT).
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Marel, the Icelandic food processing company, has signed €670m of loans that it will use partly to finance the acquisition of Netherlands-based Meats Processing Systems.
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Aegon Bank was raised €750m for its debut covered bond. The five year conditional pass through (CPT) offered a fair pick-up to where Dutch national champions would have priced, and the level of other Dutch CPTs, and the issue drew a moderately oversubscribed book.
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ABN Amro’s shares rose 3.5% on Friday, November 20, after it restarted life as a private sector bank with a successful IPO in Amsterdam. The deal raised €3.34bn and priced at 0.986 times book value, giving the bank a market capitalisation of over €16.7bn.
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The capital raisings of Greece’s four largest banks, totalling €6bn, continue to dominate the news in equity capital markets this week, though the IPO market is bringing its fair share of deals as well.
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ING Bank was able to price its debut euro green bond inside its regular senior curve on Tuesday, with bankers estimating a very slim premium for the well subscribed trade.
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The Dutch bank has mandated leads to roadshow its inaugural conditional pass-through covered bond.
