Tightened levels can’t stop push for Nordics
Investors snapped up Nordic banks’ private placements this week, even as some issuers tightened levels amid the strong demand. Swedbank, Pohjola Bank, Danske Bank, Nordea and Sparebanken Vest all sold deals in size, flying in the face of the usual August lull in the capital markets.
Swedbank tapped its September 2016 floating rate notes three times on Tuesday — raising €120m — despite making little change to its levels beforehand.
“We didn’t do anything exceptional this time — in fact we’ve been tightening rather than widening levels for quite a long time so
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