Electrolux Swedish krona wins atypical pension demand

Electrolux, the Swedish appliance manufacturer, sold its first bond of 2013 on Wednesday. The Swedish krona deal offered investors little premium over the issuer’s curve, but received higher than expected demand from pension funds. Asset managers and insurers — expected to be a mainstay of the deal — were less involved than expected, owing to a glut of Electrolux paper already outstanding.