Finland
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Valmet, the Finnish technological services company, has refinanced a €200m facility first signed in May 2013. The company swapped two of the original lenders with new banks. -
A $3.5bn dual-tranche borrowing to back Tencent Holdings' acquisition of a stake in mobile gaming company Supercell, has been allocated. Three Chinese mandated lead arrangers and bookrunners held on to 60% of the loan at the end of general syndication.
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Finland’s largest private lessor, VVO Group, sold its second euro bond on Monday, with orders coming from Nordic and, for the first time, other European investors.
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The covered bond pipeline grew this week as Ibercaja and BNP Paribas Fortis mandated leads for roadshows and Nordea signalled it could be ready to return soon.
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Hannele Pokka, the Finnish minister for the environment said, in an exclusive interview with GlobalCapital, that she believes the ratification of the Paris Agreement, the first ever universal, legally binding climate accord struck in 2015, will spur on the green bond market’s development.
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Nordea Bank Finland has been dissolved and its mortgage bank business has been transferred to a new covered bond issuing entity, suggesting it could be ready to return to the covered bond market after an absence of exactly one year.
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Nordic telecoms company TeliaSonera has signed a €1.5bn five year credit facility with thirteen banks, refinancing a seven year deal signed in 2010.
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Finnish companies could be on course for record loan issuance in 2016, according to one syndicate banker in the country.
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Municipality Finance has made its long awaited entrance into the green bond market with a dollar five year on the same day that a new green exchange launched.
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MuniFin will launch its first ever green bond on Tuesday, after completing a two week roadshow to gauge investor sentiment.
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Swedish bank Stadshypotek has mandated leads for its first covered bond backed by Finnish assets. As the bonds are regulated under Swedish law, they should offer a small spread over Finnish legal framework deals which are eligible for the ECB's covered bond purchase programme (CBPP3).
