Nordea Markets
-
Citycon Group, the Nordic shopping centre company, has signed €500m of revolving credit facilities. It wants to shore up its balance sheet as it teeters on the edge of a junk rating.
-
The clamour for green bonds was on display in the corporate market on Thursday when UPM-Kymmene, the Finnish pulp and paper company, had its debut green issue more than six times oversubscribed, while a conventional bond for Swedish truck maker Scania found more modest demand.
-
The Kingdom of Sweden will come to market on Wednesday for a new 25 year Swedish krona benchmark, coming on the heels of a green bond from the City of Gothenburg.
-
Rising coronavirus cases and circling uncertainty around the upcoming US election is driving the Swedish krona market towards higher rated, domestic names.
-
Euronav, the Belgium based crude oil tanker company, has signed a $713m loan package, as the sector outlook turns bleak after a strong start to the year because of an overproduction of oil.
-
Nordic banks are likely to focus on smaller private placements for the rest of the year, with many already having enough liquidity that they do not need to print new benchmarks.
-
Argenta Spaarbank, Belfius Bank and Jyske Bank took differing approaches to sell €500m no-grow senior bonds this week — Argenta offered a substantial new issue premium, while the latter pair pushed their pricing close to fair value.
-
Risk appetite has returned to the high grade corporate bond market this week, as investors looked to snap up what they could before presidential election volatility and earnings blackouts create a desolate primary market.
-
Crédit Agricole and Nykredit Realkredit were able to push aggressively on pricing in the additional tier one (AT1) market this week, as they took advantage of favourable supply and demand dynamics.
-
Europe’s investment grade corporate bond market saw trades from the Covid-19 rocked real estate sector on Thursday, with Immofinanz and Heimstaden Bostad attracting less demand than recent similarly rated trades.
-
A pair of infrequent issuers, Belfius Bank and Jyske Bank, tapped a strong market on Thursday with a pair of senior deals. The conducive environment is expected to wane as banks enter blackout periods, and prospective deals will have to vie with volatility around the US presidential election.
-
The European Bank for Reconstruction and Development ventured out to raise its largest ever bond linked to the secured overnight financing rate (Sofr) this week in what otherwise a thin week for issuance in dollars.