Rabobank
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It is misplaced to be relaxed about the speed with which banks are aligning their liability structures with regulatory requirements. -
Rabobank welcomed huge demand on Wednesday for its first ever non-preferred senior bond, bringing a deal forward before the Netherlands has legislated for the asset class.
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Rabobank announced on Monday that it has launched the first ever SRI debt instrument for the short-term market — and was immediately able to print €1.2bn of paper 2bp inside its curve.
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Rabobank's head of sustainable markets has left the bank, to take up a job in Brazil. He will be replaced by a colleague who has worked in sustainability for many years.
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The Greek banking sector could receive European Central Bank monetary policy support once Greece has exited its bailout programme in August, according to a senior strategist.
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Spain’s Grupo Siro has signed a €240m loan with sustainable features, as green financing continues to make a path into the syndicated loan market.
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The Netherland’s Riwal Holding Group has substantially increased the size of its revolving credit facility, refinancing its bank debt early as terms in the slow primary market continue to be weighted in favour of borrowers.
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The Netherlands could be at the beginning of a crackdown on tax benefits for additional tier one (AT1) capital, after the European Commission said that state aid concerns had convinced it to take aim at provisions that allow banks and insurers to deduct tax from interest paid on the instruments.
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Dutch residential property company Vesteda sold a €500m eight year bond on Tuesday to help refinance its acquisition of a Dutch property portfolio from Dutch financial services company NN Group.
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UK retailer J Sainsbury’s has signed a £3.5bn loan package to back its acquisition of Walmart-owned Asda, with the company raising more debt than the cash component of the deal despite analysts raising concerns about the borrower’s recent debt levels.
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Dutch banks have moved one step closer to being able to issue non-preferred senior debt after the government made progress with the relevant legislation this week, but a spokesperson for the ministry of finance suggested that final implementation was not expected until the fourth quarter.
