Danske Bank

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.

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.

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.

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?

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.

Danske Bank has added two new members to its FIG origination team in Copenhagen.

Swedbank has grown its DCM syndicate team after hiring an SSA and FIG focused banker from a Nordic rival.

Sweden’s SSAB has ramped up the size of its euro denominated revolving credit facility to €600m, as the high strength steelmaker becomes the latest beneficiary of the liquidity flooding the loan markets.

DLR Kredit has become the first bank to convert senior debt that has been contractually subordinated into bonds that are subordinated by law, cementing the insolvency status of its creditors and paving the way for other firms to follow suit.

Danske Bank’s additional tier one note struggled to remain above water in the secondary market on Thursday as subordinated financials debt across Europe sold off. Other banks with plans to issue the instrument will be watching the market closely.

Danske Bank and CNP Assurances both looked set to execute benchmark deals in the most risky form of debt they could respectively offer on Wednesday, as financial institutions look to clear out a backlog of deals in a shaky market.

Cloetta, the Swedish confectionery company, has amended and extended its euro and krona loans in an entirely Nordic banking affair, and also launched a commercial paper programme.