An infrequent Swedish corporate issuer, a Nordic bank, and a German car manufacturer all placed floaters larger than Skr1bn ($106m) in the last week. Swedish krona bonds have been popular with both public and private issuers in recent weeks, as both issuers and investors rush to get business done before the traditional midsummer market closure.
Electrolux sold a Skr1.25bn ($132.4m) three year floater on Monday. The note pays a coupon of three month Stibor plus 75bp, and matures in June 2022. Handelsbanken priced the note with a reoffer spread equivalent to Stibor plus 42bp.
“We had a good order book and the final