Finland

Today was a weakish day for stocks, with the Euro Stoxx 50 down 0.5%, but that has not stopped Bain Capital executing its first block trade of shares in Bravida, the Swedish heating, plumbing and electrical contracting company that floated in October. The trade is covered.

United Arab Bank — Isbank — LSL Property — Nokian

LBBW, OP Mortgage Bank and Mortgage Bank of Finland took little time to sell their benchmark euro deals this week.

LBBW, OP Mortgage Bank and The Mortgage Bank of Finland took little time to sell their benchmark euro deals as, despite the relatively meagre yields on offer, the bonds offered a substantial spreads compared to negative yielding German government bonds.

Lehto Group, the Finnish modular construction company, pulled off the rare feat of pricing its IPO at the top of the range this week, and then saw the stock rise 15% on its debut on Thursday.

Three public sector borrowers issued sterling this week, taking proceeds in the currency to their highest level in months as fears over the United Kingdom leaving the European Union receded.

Finland is to tap £100m of its December 2020s amid signs of confidence in the sterling market as the risk of a British exit from the European Union falls.

Bookbuilding has begun for three Nordic IPOs, continuing a strong run from the region, which has produced 12 completed IPOs so far in 2016, out of 51 altogether in EMEA.

Rating: Aaa/AA+/AA+

L-Bank and the African Development Bank are set to be the latest issuers this week to take advantage of rising short end dollar swap spreads, mandating for deals on Wednesday after Finland printed a short dated deal of its own.

Finland is lining up a three year dollar benchmark for Wednesday, following a stream of issuance on Tuesday that highlighted the strength of the dollar market.

Tokmanni, Finland’s largest general discount retailer, announced on Tuesday its intention to float on Nasdaq Helsinki during the second quarter, selling both new and existing shares.