THE HAGUE LAUNCHES SECOND TRANCHE OF CP PROGRAM
Bank Mees en Hope NV, a fully-owned
subsidiary of Algemene Bank Nederland NV, said it launched the
second tranche of a 100 mln guilders commercial paper program
for the city of The Hague.
    Mees en Hope declined to comment on the size of the second
tranche but said the first tranche, ended March 10, was for 50
mln guilders.
    The second tranche is for the period April 14 to July 14.
Denominations are one mln guilders and the issue price, on a
discount to yield basis, is to be set tomorrow at 1000 hours
local.
    Clearing and delivery of the program will be via the short
term paper clearing institute of the Dutch Central Bank.
    The Hague was the first Dutch city to start a commercial
paper program, allowed on the Dutch capital markets since
January 1986.
    Rotterdam and Amsterdam have since followed with programs
of 400 mln and 300 mln guilders respectively.
 REUTER
