DNB Bank
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Shares in Ahlsell, the Swedish wholesaler of plumbing and electrical installation products, have traded strongly since its Skr6bn ($671m) Stockholm IPO, ending Thursday 13% above their IPO price. -
A flurry of follow-on equity sales this week, mostly block trades, showed that investors still want stock, sometimes at tight discounts, even while three IPOs had to be abandoned.
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Spain’s Banco de Crédito Social Cooperativo joined Italian duo Credito Emiliano (Credem) and Credito Valtellinese (Creval) in the tier two pipeline this week, as banks finally felt confident enough to launch new transactions after a tricky September.
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Cabot Credit Management, the debt purchasing and recovery business, has amended its senior secured revolving credit facility and lowered the margin but kept the same group of lenders.
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Rising oil prices are said to be behind the strong reception Norway’s DNB got on Tuesday when it reopened the dollar Reg S market for additional tier one (AT1) paper.
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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.
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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.
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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.
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DNB Boligkreditt issued a larger than average euro benchmark 10 year covered bond at a spread that was arguably flat to its curve this week, showing solid demand for non-Eurozone deals that still offer a substantial pickup to core markets.
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UK distressed debt buyer Arrow Global this week returned to the market, after selling euros in April, with a refinancing deal to repay in full its 7.875% 2020 notes.
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Cloetta, the Swedish confectionery company, has agreed Skr3.7bn ($430m) of unsecured loans with a group of four Nordic banks, its first ever syndicated loan.
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