Nordea Markets
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Issuers pile into market but demand still outweighs supply
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Investors are hungrier than ever for the asset class as markets move on from the coronavirus crisis
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Mandates line up as autumn issuance window bursts open
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The Finnish bank is bearing down on the previous record low coupon set by UBS
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Investment grade corporate debt market revs up for risk as subordinated trades mark first supply in a fortnight
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Swedish firms flock to MTN market in search of covered and senior funding
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BEWiSynbra, a Norwegian packaging company, has contacted bondholders to get permission to refinance €215m of notes early with a new floating rate sustainability-linked bond issuance.
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Nordea said on Wednesday that it had received its final minimum requirement for own funds and eligible liabilities (MREL) last quarter. The Finnish firm is looking to put a greater emphasis on non-preferred senior debt, rebalancing regulatory resources away from equity and ordinary senior bonds.
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A handful of borrowers have found their additional tier one (AT1) paper upgraded into investment grade territory by Moody’s this week, following adjustments in how the agency treats high trigger instruments.
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Loomis, the Swedish cash handling company, has signed a €265m-equivalent credit facility, with the borrower maintaining the same level of net bank facility debt.
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Teknos, a Finnish maker of paints and industrial coatings, strayed from the standard playbook when designing the key performance indicators for its first sustainability-linked bank loan, a €140m deal.