Rabobank

A pair of emerging market banks placed MTNs this week. In Australian dollars, Banco del Estado de Chile printed a 10 year note on Tuesday, while on Monday, Qatar National bank placed short end dollar paper.

NIBC Bank said on Tuesday that its risk-weighted asset base would grow by more than €1bn, as a result of the European Central Bank’s targeted review of internal models (TRIM). Model changes demanded by the Dutch regulator made its common equity tier one (CET1) ratio slump from 18.5% to 16.1%.

Europe's investment grade corporate bond market began the week with a hefty pack of new bond issues, as issuers were spurred on to bring deals by last week's rally and the favourable performance of past prints.

Switzerland’s Ameropa has signed a $600m revolving credit facility, with the privately owned agricultural business bumping up the size of its syndicated bank line and bank group.

A syndicate banker at Rabobank focusing on sovereigns, supranational and agencies (SSAs) has left after just six months to return to UBS, where he worked between 2015 and 2017.

Ghana Cocoa Board, the central organisation for Ghana's cocoa industry, is in the process of raising $1.3bn to refinance existing debt.

Investors looking for some extra returns in the financial institutions bond market after an impressive rally this year have started seeing value in additional tier ones with low reset spreads, despite the risk that the bonds will not be called at the first opportunity.

Rabobank attracted good demand for a dual €2bn eight year and 20 year covered bond offering on Thursday, even though the deal was issued at the tail-end of a busy week and competed for investors’ attention in euros with Coventry Building Society and Všeobecná úverová banka (VUB).

Rabobank is set to open order books for a two-part euro covered bond that takes advantage of the demand for higher yielding debt with the inclusion of a 20 year tranche. At the same time Coventry Building Society is planning a seven year in euros.

The €350m listing in Amsterdam of Marel, the Icelandic meat processing machinery maker, is covered on the second day of bookbuilding, having gained early momentum partly by attracting two cornerstone orders.

Switzerland’s Sucafina has renewed its $300m syndicated loan, with all 11 banks that lent to the coffee trader’s debut in 2017 rejoining the deal as bankers say there is still not enough business to go around.

US firm Auramet has increased its syndicated loan to $190m, with the precious metals trader adding to its lending group for an oversubscribed deal.