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Nordea to re-open market

Nordea Bank is looking to come to the unsecured FIG market on Wednesday, having mandated HSBC, Goldman Sachs, Deutsche Bank and Nordea to do a three year FRN. The leads have gone out with guidance at 75bp over mid-swaps, with the deal expected to price on Wednesday afternoon. The only other senior unsecured deal in euros in the last seven weeks was Deutsche Bank’s tap of a three year FRN two weeks ago for Eu650m, at 73bp over mid-swaps. To find out whether market participants expect Nordea’s deal to lead the way for more issuance read EuroWeek on Friday or log on to euroweek.com/banks.

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