Denmark
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Denmark’s TDC will use the proceeds of its Get AS sale to slash its debts, with the telecoms company planning to repay $2.3bn-equivalent of loans by the end of this year. -
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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Sydbank sold its first non-preferred senior deal on Tuesday, leaving it with €500m to raise for its minimum requirement for own funds and eligible liabilities (MREL).
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Nordic equity capital markets investors had several deals to look at on Tuesday night, with two deals contributing over €587m of issuance in Nordic ECM.
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KommuneKredit took a careful approach to its first benchmark deal since losing its triple-A rating with S&P. It found a good reception after starting with a wider initial pricing level.
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KommuneKredit hit the screens on Tuesday for a new five year euro benchmark, hoping to emulate the success of the European Stability Mechanism’s deal in the same currency and maturity in July.
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KommuneKredit’s borrowing costs and access to the capital markets are unlikely to be affected by S&P downgrading its long term credit rating, said SSA bankers.
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Nykredit Realkredit more or less filled its annual target for issuance in the non-preferred senior format on Tuesday, raising €500m in its first deal since a recent update to bank insolvency law in Denmark.
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A green bond and a conventional bond both hit the euro market on Wednesday. While neither aimed for size, the pricing action showed much hotter demand for the green offering.
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France sold its first syndicated tap on Tuesday, adding €4bn to its GrOAT line. The sovereign will be followed in the green market by a Danish agency's sophomore offering.
