Finland
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Municipality Finance is aiming to bring a debut green bond after the summer, with euros a possible currency for the bond. -
KommuneKredit has printed a no-grow €1bn seven year from an oversubscribed book, becoming the second Nordic agency to do a euro benchmark deal this week.
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Despite the limited supply in the SSA market this week, with issuers avoiding issuing close to this week’s US Federal Open Market Committee meeting and the approaching Easter holidays, there was still room for a clash of issuers on Monday as one borrower felt compelled to slam the anchors on its proposed benchmark.
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KommuneKredit is set to print a seven year euro deal on Wednesday, following a debut euro benchmark from Municipality Finance in the form of a €1bn October 2021 on Tuesday.
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Nordea issued a notice on Friday seeking the consent of covered bond investors to agree to the terms of a deed poll and a new guarantee mechanism that will align its Finnish covered bond programme with its Danish, Norwegian and Swedish programmes. Moody’s says the proposal will not affect the credit rating.
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KfW is set to print a 10 year euro benchmark, following in the footsteps of Belgium and Finland, this week as issuers attempt to conclude funding before the European Central Bank’s meeting on March 10.
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The board of Sponda, the Finnish property investment firm, has decided to raise €220.8m in a rights issue to partially repay a bridge loan.
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Two European sovereigns mandated for benchmark bonds in euros on Monday leading what is expected to be a scramble to get in and out of the primary market before the European Central Bank meeting on March 10.
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Finnish property firm Sponda appointed just one lender to provide its €325m bridge loan, which will fund its acquisition of six prime properties in Helsinki.
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Sanoma, the Finland headquartered media and publishing company, has retained support from its relationship banks in a €500m refinancing deal. But two banks did not return, as the group sought to slim down its syndicate.
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Teollisuuden Voima Oyj (TVO), the Finnish nuclear power company, has refinanced its €1.3bn debt facility with a reduced syndicate.
