Rabobank Groep, fined 774 million euros ($1.06 billion) last year for rigging interest rates, said it may cut an additional 2,000 jobs at its Dutch operations as part of a plan to reduce expenses by 220 million euros by 2016.
Rabobank Nederland had its outlook lowered by Standard & Poor’s after the biggest Dutch mortgage lender was fined 774 million euros ($1 billion) for its involvement in rigging benchmark interest rates.
ING Groep NV, the Netherlands’ biggest financial-services company, and its banking unit had their credit ratings cut by Standard & Poor’s following the rating company’s decision to strip the Netherlands of its top grade.
Rabobank Nederland NV , the world’s largest agricultural lender, plans to sell 100-year bonds in the second dollar-denominated sale of such securities this year as the cost of long-dated borrowing hovers near a record low.
Air China Ltd., Agricultural Bank of China, China Development Bank, Rabobank Nederland, Shandong Luxin Investment Holding Co., Zhejiang Hengyi Group Co. and Shanghai Urban Construction Group Corp. are among issuers that may sell bonds in the nation’s debt markets.
Spanish government bonds led gains in European securities as a report showing U.S. payrolls climbed last month less than economists predicted fueled speculation that the Federal Reserve will maintain monetary stimulus.
European Central Bank President Mario Draghi’s 14-month-old promise to safeguard the euro-region’s recovery is proving to be a more powerful signal for investors than political turmoil in Rome and Washington.