DNB Bank
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The Kingdom of Norway has sold a chunk of its stake in Entra, the Norwegian real estate development company, via an accelerated bookbuild that attracted more than 200 orders, according to a source close to the transaction. -
Bank Norwegian has mandated a pair of banks to look into a possible Norwegian krone or Swedish krona issuance.
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DNB Bank did not require a premium to raise $2bn of short dated senior funding at the beginning of the week, as it swooped into the market ahead of the US Thanksgiving holiday.
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DNB Markets has hired a banker from UniCredit to join its leveraged finance team in London.
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Sweden’s Recipharm has agreed a debt-backed deal to buy the UK’s Consort Medical for an enterprise value of about £627m ($810m), as the pharmaceuticals sector remains a consistent area of M&A activity.
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BBVA and DNB Bank were both looking to build towards their minimum requirements for own funds and eligible liabilities (MREL) in the euro market on Thursday, eschewing non-preferred senior issuance in favour of the cheaper preferred senior format.
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Norway’s Ferde has launched a Nkr2bn (€194m) triple part floating rate green bond, with the toll operator cruising past its minimum amount target.
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Carnival, the Anglo American cruise company, has launched a €600m 10 year trade, with the corporate bond pipeline filling fast.
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Acquisition hungry Bravida has signed a Sk2.5bn (€197m) loan, in a deal that makes up a major part of the Nordic building facilities service provider’s long term capital structure.
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The UK’s Endava has signed a new £200m-equivlanet multicurrency facility, with the software development company swapping a bilateral loan for syndicated lending.
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Teekay Shuttle Tankers has mandated a $150m “green bond” to fund new oil tankers built to the firm’s “e-shuttle” standards. The deal raises questions about the logic of using green-branded debt instruments to fund fossil fuel extraction.
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The City of Gothenburg sold a new dual tranche green bond on Tuesday, raising a combined Skr1.8bn across fixed and floating rate tranches. The note was the first printed under its new updated green bond framework.
