Bank Nederlandse Gemeenten

Read this week's funding scorecard to see which European supranationals and agencies are nearly done for the year, and which have room for another benchmark.

Basis swap volatility following the US Federal Reserve’s decision to keep quantitative easing at its current pace failed to dampen demand for euro funders’ dollar commercial paper on Thursday, as a series of sovereigns, supranationals and agencies printed.

Bank Nederlandse Gemeenten nipped in ahead of the US Federal Reserve’s surprise decision to hold back on the tapering of quantitative easing to print a $127m three year floating rate note on Wednesday.

Plenty of SSA issuers took a big bite out of their funding targets in the short window of issuance between the end of the summer and this week's FOMC meeting. Here we provide updated figures on selected European supranationals and agencies.

Bank Nederlandse Gemeenten (BNG) printed a pair of unorthodox dollar callable zero coupon deals late last week, but bankers were unsure whether the unusually long non-call dates were the start of a new trend.

Municipality Finance hired banks to run its first ever three year dollar benchmark on Wednesday, while Bank Nederlandse Gemeenten (BNG) was finishing up a deal in the same tenor.

Bank Nederlandse Gemeenten (BNG), which was the first issuer to announce a dollar benchmark this week, has attracted a healthy level of indications of interest to its three year deal ahead of opening books on Wednesday morning.

Bank Nederlandse Gemeenten has hired four banks to run a three year 144A syndication in dollars this week. The issuer is the first SSA name out of the gates although are looking to price deals ahead of US non-farm payrolls data on Friday.

Ahead of an expected flood of issuance kicking off in the last week of August, here are the updated funding scores for selected European supranational and agency borrowers.

Euro funding SSAs printed £1.19bn of sterling commercial paper on Monday, as an attractive euro/sterling basis swap helped issuers add to what has already been a record breaking year for the currency.

A bevy of issuers looked to print dollar floaters on Wednesday and Thursday, as Federal Reserve chairman Ben Bernanke’s congressional testimonies on both days made markets too risky for issuers to attempt a fixed rate benchmark. But as Bernanke’s dovish testimony appeared to mollify markets, the era of floaters could come to an end next week.

Following an unexpectedly heavy week of issuance from European supranationals and agencies, here are the updated funding scores for selected borrowers in the category.