The Netherlands, Ireland, Belgium and France are all set to raise over €13bn ($18.1bn) via syndicated bonds as early as today, demonstrating increasing evidence of governments using banks instead of auctions to raise funding. The syndicated bond sales follow the UK carrying out a record £7bn (€8.2bn) sale last Tuesday.

France could raise as much as €6bn from selling 30-year bonds, while Belgium and Ireland could raise a minimum of €3bn each. The Netherlands is also targeting about €1.5bn through syndicated bonds.