Denmark

Block issuance has been active this week, with three notable accelerated bookbuilds all sold well. Monday also brought the announcement of what could be the largest IPO in London this year.

Two equity block trades came out in the European market on Tuesday evening, both of which achieved successful sales.

Nets, the largest Nordic digital payments processing company, has confirmed that Deutsche Bank stabilised its share price after its IPO on September 23, when the company’s share price closed at Dkr145, down 3.3%, on its first day of trading.

Nets, the Nordic digital payments processor, fell on its first day of trading in Copenhagen, after completing a Dkr15.75bn ($2.4bn) IPO that won very strong demand and was priced highly.

Nets, the largest digital payments processor in the Nordic region, will close the books for its Dkr10.4bn to Dkr16.8bn ($1.6bn-$2.5bn) IPO two working days early after receiving strong demand.

Nets, the largest digital payments processor in the Nordic region, has announced the price range for its Copenhagen IPO, which values the business at up to $4.8bn, almost double the price its private equity owners Advent and Bain paid for the company in 2014.

Danish payment systems firm Nets has agreed €1.4bn of loans with a new bank group to refinance debt ahead of its initial public offering. The loans are denominated solely in euros which is an increasingly popular currency for lenders, said a banker on the deal.

US agricultural equipment manufacturer AGCO launched its first ever Schuldschein for €150m on Tuesday. Some of the proceeds will be used for the acquisition of Danish manufacturer Cimbria.

Five banks raised more than $10bn in the senior unsecured dollar market this week, exploiting strong demand and at spreads that were in line with where covered bonds would have priced.

Nets, one of the largest digital payment service providers in the Nordic region, announced its intention to float on Nasdaq Copenhagen, hoping to emulate the success of larger UK peer Worldpay which was listed last year in London.

Chr. Hansen, the Danish bioscience company, has added two non-Nordic banks to its core syndicated loan in a €700m refinancing.

The long end of the Kanga curve saw action this week, as Japanese investors hunted for yieldy paper.