Swedbank AB top stories

• FIG issuers hit pause as secondaries begin to widen

  

  The financial institutions bond market has absorbed an enormous volume of supply over the past month, putting a strain on trading levels for outstanding securities. FIG bankers nonetheless expect that spreads could start to tighten once more in the coming weeks, amid a calmer flow of new issuance.

  • 03 Oct 2019

• Swedbank and UniCredit keep euro senior taps flowing

  Swedbank and UniCredit got away with paying small new issue premiums for senior bonds this week, after utilising an extremely favourable backdrop for issuers in the euro market.

  • 02 Oct 2019

• Kommuninvest prints Swedish green note with rare negative yield

  Swedish agency Kommuninvest doubled the size of its June 2023 green bond on Tuesday through a Skr3bn ($309.8m) tap. The tap was issued with a negative yield — rare for the Swedish krona market — and is the issuer’s first negative yielding green print since October 2016.

  • 12 Sep 2019

• ING follows BBVA and Swedbank in AT1 dollar rally

  ING sold a dollar-denominated additional tier one (AT1) this week, adding an influx of supply in the asset class in recent weeks. It will have the option to redeem its new bonds twice a year after the first call date, instead of the usual five years in all of its outstanding bonds.

  • 03 Sep 2019

• New era for bond pricing as corporates, banks push deeply negative

  Europe's bond market reopened for the autumn issuance season this week — but it is a new bond market. The summer's queasy bout of bearishness has pushed government bond yields to unprecedented lows and these are now for the first time being tested as a platform for private sector bond issuance.

  • 22 Aug 2019

• Blowout Swedbank deal heralds the start of a busy AT1 refi season

  Swedbank was supported with 14 times as much demand as it needed for a $500m additional tier one bond on Thursday, helped by falling interest rates in the US. The deal could be the first of many from European banks, which are facing up to a busy call schedule for AT1s in 2020.

  • 22 Aug 2019

• FIG issuers fear slow start to post-summer activity

  Participants in the financial institutions bond market had expected that issuers could hit screens with new transactions as early as this week, but so far macroeconomic and political uncertainty has discouraged them from putting investor appetite to the test this summer.

  • 13 Aug 2019

• Esma cancels ‘shadow ratings’ fine for Nordic banks

  The European Securities and Markets Authority (Esma) has had to row back on fines for four Nordic banks for issuing credit ratings, after an appeal board found that the banks had not broken the rules negligently.

  • 15 Jul 2019

• SSAs take advantage of low Nordic yields

  A trio of SSAs made the most of low yields in Danish kroner and Swedish kronor to print paper with coupons hovering around zero this week.

  • 27 Jun 2019

• NatWest makes krona debut as Avida raises AT1

  Three Nordic banks and one British bank placed paper in Swedish krona this week. NatWest Markets made its debut in the currency, while Scandinavian-based Avida Finans printed its first AT1. Avida Finans plans to follow this debut AT1 with a future stock exchange listing.

  • 21 Jun 2019