Scania hauls in Skr as Nordic truckers drive recovery
Scania rode a wave of demand for Nordic truck makers this week, opening the Swedish krona market on Monday with an oversubscribed Skr1.5bn ($234m) two tranche deal. Truck producers in the region have enjoyed a strong recovery since 2008, and have also resisted the eurozone sovereign crisis, making these corporates an even safer asset class in investors’ eyes.
A Swedbank report on the sector deemed Scania and Volvo which issued a Skr1.5bn two year FRN in mid-August to have had the healthiest comeback among their peers.
"We conclude that both truck makers are in a stronger financial position today than in the end of
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