Danske Bank
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Kongsberg Gruppen, a Norwegian supplier of technology systems to the offshore oil and gas sector, has finished a Nkr5bn (€513m) rights issue with a healthy level of oversubscription. -
Adform, the Danish advertising technology company, will brave difficult markets to list on Nasdaq Copenhagen this November.
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Wednesday will be debut day in the green bond market, with Ireland preparing a 12 year inaugural euro benchmark and Société du Grand Paris (SGP) out with a 10 year that will also be its first bond issue of any kind. Both must contend with a market backdrop rife with Italian politics-driven turbulence, although SGP’s deal has so far had what one lead called “one of the strongest starts I’ve seen for a French issuer”.
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The Danish Financial Supervisory Authority has increased Danske Bank’s capital requirements for a second time following an investigation into money laundering through its branch in Estonia. The scandal-stricken lender said on Thursday that it was ending its share buy-back programme to comply with the new targets.
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Three more credit default swap contracts are referencing non-preferred senior bonds following the latest roll of the iTraxx indices, as bank debt investors try to deal with a gradual transition towards a bail-in regime in Europe.
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Europe already has a powerful tool to deal with banks that fail to show they have the proper risk controls in place — it’s called the supervisory review and evaluation process.
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Sunstone Capital, the Danish venture capital firm, sold its final stake in Swedish e-commerce firm Boozt on Wednesday, its third sale of shares since the firm’s IPO in May 2017.
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The European Securities and Markets Authority recently fined a clutch of Nordic banks for breaking credit rating regulations. The decision could have implications for the Schuldschein market — where arranging banks issue similar ratings to investors.
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The European Securities and Markets Authority’s (ESMA) decision to fine five Nordic banks last week has raised two questions: just how consistently will rules be applied across Europe, and is it even appropriate that they are?
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The European Securities and Markets Authority on Monday issued fines to five banks from the Nordic region totalling €2.475m, for issuing credit ratings without having gained the necessary approval.
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Danske Bank has added two new members to its FIG origination team in Copenhagen.
