Finland

Finnish real estate company Sponda has signed an €80m unsecured loan agreement with three banks to refinance a syndicated loan that matures this month.

Finnish real estate company Sponda has signed an €80m unsecured loan agreement with three banks to refinance its syndicated loan that matures this month.

Finland’s Municipality Finance has edged nearer to its funding goal for the year with a pair of Norwegian krone bonds, its first prints in the currency since early 2014.

Aktia Bank launched and priced its first ever Swedish krone bond on Monday, in a deal that could trigger more issuance in the currency as borrowers hunt for investor diversity.

Aktia Bank has agreed to buy the remainder of its subsidiary, Aktia Real Estate Mortgage Bank (Aktia REMB), by 2017. As a result Finland’s savings banks will refinance their own mortgages by establishing a new covered bond issuing institution, expected to be called SP Mortgage Bank, which will start issuing from next year.

Covered bonds issued this week by Nordea Finland and DNB Boligkreditt went surprisingly well as, despite being the largest ones on offer, they were the most highly oversubscribed and subsequently posted the best performance.

A second European issuer in as many working days has pulled back from the corporate bond market, blaming challenging market conditions.

Finnish telecommunications company DNA has refinanced loan facilities with a €250m credit facility, signed today.

A second European issuer in as many working days has pulled back from the corporate bond market, blaming challenging market conditions.

Nordea Finland returned to the covered bond market on Monday to issue a €1.25bn seven year. In contrast to other recent deals, the transaction attracted solid demand of over €2bn from a wide range of investors and sets the stage for follow-on issuance.

Finnair, the unrated Finnish airline, increased the size of its hybrid capital issue today by €50m to €200m, as Nordic investors supported the credit in a turbulent week.

Finnair, the unrated Finnish airline, increased the size of its hybrid capital issue today by €50m to €200m, as Nordic investors supported the credit in a turbulent week.