Fortum scales 2007 heights to price record SEK issue
Finnish energy company Fortum Oyj issued the largest ever Swedish krona corporate bond on Monday, a Skr6.2bn (Eu666m) five year fixed/floating issue. The previous largest transaction was another Fortum deal, a Skr6.1bn seven year/five year fixed/floating issue priced in May 2007.
Bookrunners Danske Bank, Handelsbanken and SEB priced the deal at 95bp over three month Stibor for the Skr3.1bn FRN, and 95bp over mid-swaps for the Skr3.1bn fixed rate deal.
This price is at a slight premium to where Fortum prices in euros, after accounting for the cross-currency basis into
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