Morning Commentary: BNG Bank offers dollar-denominated notes in pre-holiday market

By Devika Patel

Knoxville, Tenn., Aug. 29 – Primary activity in the investment-grade bond market was modest Thursday morning with only one new deal announced.

The Hague, Netherlands-based bank BNG Bank NV announced that it will conduct a dollar-denominated Rule 144A and Regulation S sale of benchmark notes.

Toronto-Dominion Bank, HSBC Bank plc, Morgan Stanley & Co. International plc and Scotiabank Europe plc are the bookrunners.

The corporate bond market is expected to remain largely silent owing to the extended Labor Day weekend in the United States in which markets will be closed on Monday.

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