Danske Bank

Ambu, the Danish medical equipment company, has raised Dkr1.3bn ($212m) via the sale of new stock to fund a deleveraging of its balance sheet.

Banque Internationale à Luxembourg (BIL) ventured into the Swedish and Norwegian markets for the first time this week. With many of Europe's big banks absent from the MTN market this year, dealers are instead chasing more unusual deals from rarer names.

Sagax, the Swedish commercial property company, and UK social housing firm Great Places have mandated for sub-benchmark sized deals, in what is likely to be a curtailed week for issuance in the corporate bond with a European Central Bank meeting on Thursday.

UniCredit raised €2bn of preferred senior funding with a careful trade on Tuesday, as investors come to terms with a new pricing paradigm in the bank bond market.

The European Central Bank is expected to announce an extension to its Targeted Longer Term Refinancing Operations (TLTRO III) on Thursday, with this week's meeting long flagged as one for action. Any extension to either the duration of the programme or the minus 1% special interest period will ease the pressure on banks to repay borrowed funds early next September.

The FIG pipeline has slowed to a drip, with the upcoming ECB meeting and Brexit talks bookending what could be the last week of open windows for issuance.

The UK’s SSE Renewables and Norway’s Equinor, two energy companies, have signed what lenders say is the largest ever offshore wind project financing, a £5.5bn package for a wind farm off the UK coast.

Nederlandse Waterschapsbank and Kommuninvest will both take to the dollar market this week, sneaking in ahead of the Thanksgiving holidays.

Citycon Group, the Nordic shopping centre company, has signed €500m of revolving credit facilities. It wants to shore up its balance sheet as it teeters on the edge of a junk rating.

Financial institutions jumped into action this week, as positive news on the development of a Covid-19 vaccine led to superlative funding conditions in the euro market.

The Kingdom of Sweden will come to market on Wednesday for a new 25 year Swedish krona benchmark, coming on the heels of a green bond from the City of Gothenburg.

The positive tone following Monday’s vaccine announcement has filtered through into the secondary market, compressing bank senior index spreads to an almost two month low.