Finland
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Nordea and BPCE helped revive covered bond market confidence on Wednesday after some lacklustre deal receptions at the start of this week, with the successes due to thoughtful consideration of tenor and pricing strategies. -
Santander Consumer Bank AS sold its first ever five year senior bond in the euro market on Monday, raising €500m of new funding with five times as much in orders in tow.
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Sampo, the Finnish insurance firm, brushed away the recent bout of volatility with a €500m issue of new senior bonds in the euro market on Tuesday.
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A pair of euro borrowers braved a tricky market on Tuesday, raising a combined €4bn despite heavy weather in government spreads. One opted for a defensive pricing strategy, while the other attempted to squeeze investors.
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The European Investment Bank (EIB) and Municipality Finance announced sterling transactions for Tuesday, making this January a remarkably busy one for the currency.
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Execution in the euro SSA market keeps getting better. New issue premiums are sliding as market participants adjust to new yield and spread levels, according to bankers and issuers.
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The euro market, despite an increasingly hawkish central bank and strengthening euro, is proving immensely popular with borrowers. A pair of sovereigns hit screens on Monday for euro trades, as did two Nordic agencies.
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Stora Enso, the pulp and paper company based in Finland, has successfully refinanced a €700m loan with a €600m revolving credit facility.
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Finland’s Oma Savings Bank found strong demand for a debut covered bond on Monday which, because of its sub-benchmark size, offered a sizeable premium to any other Finnish benchmark.
