Nordea top stories

• Merck hybrid gets €11bn book amid risk rally sparked by Draghi

  

  Investors hoovered up two German hybrid capital issues on Tuesday, in a receptive market spurred on by dovish comments from European Central Bank president Mario Draghi. They were of very different stripes: a €1.5bn dual tranche issue from Merck, the pharmaceutical company, which was about 7.5 times covered, and a £400m issue from Aroundtown, the property company.

  • 18 Jun 2019

• Swedish krona issuers look to beat midsummer close

  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.

  • 11 Jun 2019

• Covered bonds explode amid lower expectations

  Euro and dollar benchmarks issued by Nordea, Lloyds, Korea Housing Finance Corporation (KHFC) and SMBC on Tuesday was a fillip for covered bond market participants suffering through volatile credit market conditions that have caused price expectations to fall.

  • 11 Jun 2019

• Netherlands sails through debut green bond

  The Netherlands got a huge reception for its highly anticipated inaugural green bond on Tuesday, with a final book of over €20bn that allowed the sovereign to issue at the upper end of its target.

  • 21 May 2019

• Plain sailing for Commerz, Nordea, while BNPP tightens too far for some

  Commerzbank did not appear hindered by uncertainty around its future in its senior preferred issue on Tuesday, while Nordea picked up green demand for its own offering. Meanwhile, BNP Paribas drove in pricing on its senior non-preferred deal, and ended up turning off some investors altogether.

  • 21 May 2019

• Carrefour takes lion's share, SBB gets by

  After a couple of slow weeks for corporate bond issuance in Europe, the pace quickened somewhat on Tuesday, with two €500m no-grow issues. One was from a familiar name - Carrefour, the French supermarket chain - the other from a new one, Samhällsbyggnadsbolaget i Norden, a Swedish residential property company founded only in 2016.

  • 07 May 2019

• Millicom, high yield and EM-focused, plans sustainable bond

  Millicom International Cellular, the emerging markets-focused telecoms group, is planning to issue its first sustainable bond. It published a Sustainability Bond Framework on Tuesday and will issue with a high yield rating.

  • 01 May 2019

• Dometic uses empty market to price bond near fair value

  Dometic Group, the Swedish company that makes appliances for mobile homes, started the week by launching a €250m seven year high yield bond that was tightly priced, perhaps partly because the credit market was otherwise fairly quiet.

  • 29 Apr 2019

• Finnvera EUR1bn 0.375% Apr 29

  • 04 Apr 2019

• ERG’s debut green, Norsk Hydro two parter win keen bid

  Two renewable energy companies achieved successful euro bond issues on Thursday. Norsk Hydro, the Norwegian aluminium and renewable energy firm, and ERG, the Italian wind energy group, issuing in green format, both tightened their prices and finished with plenty of over-subscription in their books.

  • 04 Apr 2019