Belgium
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Guarantors: Kingdom of Belgium (51%), Republic of France (46%) and Grand Duchy of Luxembourg (3%)
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A top US derivatives regulator on Wednesday went into battle against his European counterparts over their new proposal that will increase the stringency of the EU’s oversight of foreign clearing houses.
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The European Commission has warned the UK that special tax rules for commodity derivatives in the country might be in violation of European Union treaties.
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Belfius sold €200m of callable tier two bonds on Monday in a deal that it said would "contribute to an optimal capital structure" for the bank.
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Bond clearing house Euroclear intends to move its holding company from the UK to Belgium as it prepares for the “risks” posed by the UK’s departure from the European Union.
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Belfius Bank said on Tuesday that it was ‘exploring opportunities’ for issuing up to €200m of new tier two bonds, which would help the issuer to improve the composition of its capital stack.
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Econocom, the Belgian provider of digital business-to-business services, shook off fears over stockmarket volatility to issue a €200m convertible bond on Thursday.
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Hopes that green bonds will become an established segment of the sovereign bond market rose this week when Belgium launched its first one to an enthusiastic reception and Hong Kong’s government set out plans for a HK$100bn ($12.8bn) green bond programme.
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KBC became the first Belgium bank to issue a covered bond this year, attracting moderate demand despite a seemingly generous new issue premium.
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Belgium achieved one of its tightest new issue premiums for years with its inaugural green bond, as green-minded investors from across Europe — and at central banks — piled into the deal on Monday.
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European Central Bank president Mario Draghi on Monday welcomed proposed EU powers over the clearing of derivatives in foreign jurisdictions, calling recent legislative efforts by the European Commission a “necessary initiative”.