Finland
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◆ Finnish DMO's Sammallahti on 'sweet spot' tenor ◆ Close to fair value ◆ Asset managers willing to buy shorter -
◆ 'Humongous' compression at the long end attractive ◆ Small premium paid on tighter headline level ◆ Tasty pick up still offered over KfW
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Deal is a mix of green private placements, term loans and revolving credit facilities
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Part of a 'wave' of large ESG deals, according to a lead banker
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◆ Minimal impact from escalating Middle East conflict ◆ Investors eager to buy long end BPCE ◆ Danske lands flat to Pfandbrief
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◆ Finnvera joins dollar party in primary ◆ Attractive levels and lack of supply boost demand ◆ Another German issuer brings 10 year euro paper
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Three year maturity fills important funding gap for highly rated names, say lenders
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Company calls on its relationship banks to bump up the size of its RCF
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The company has refinanced and increased its loan by another €100m
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◆ Textbook tightening ◆ Stable conditions open up market ◆ 60% of funding expected to come by June
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Spreads over Treasuries are tight but hope is that ‘others will follow’
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◆ Finnish deal delivers size ◆ Trade already spotted tighter in secondary ◆ Finnish supply lagging 2024 year to date
