Swedbank bucks short-end trend with five year placement
Swedbank cut through the recent MTN trend for short dated unsecured notes with a Skr1.95bn ($288.8m) five year floater via Handelsbanken on Monday. It also sold its first public senior unsecured bond since early 2010 (see separate story in Credit News: Financial Institutions section).
Few borrowers have been able to overcome investor reluctance to buy anything other than short dated MTNs in volume. Swedbank, which has used private placements as the primary source for its senior unsecured funding in the last two years, was able to attract longer interest regardless.
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