Nordea Markets

On Monday, Statnett, the Norwegian state electricity grid company, mandated banks for its debut benchmark bond issue in euros. This followed German power utility RWE announcing the results of its recent tender offer on Friday.

Norsk Hydro completed its buyout of fellow Norwegian aluminium producer Sapa, valued at Nkr27bn ($3.38bn) on Monday, drawing in part on its existing five year revolving credit facility.

Public sector borrowers this week smashed through their conventional curves with green bond issues. But there was some debate over whether this marks the start of a trend or is merely the product of scorching conditions in both the euro and dollar markets.

Guarantor: Republic of Finland

Rating: Aa1/AA+

Nordea has hired an ex-Deutsche Bank banker as global head of debt capital markets, part of a shake-up in the firm's wholesale banking business.

One borrower took advantage of an excellent backdrop to scoop up its first green funding in euros at an attractive level on Tuesday, while a second issuer is lining up to follow suit in dollars.

Peter Ellemann has left his position as head of European loan syndications at ANZ Bank around a month ago, according to sources in the market.

Germany’s federal election on Sunday caused ripples in government bond spreads throughout the eurozone on Monday, but concerns are subsiding already, allowing one agency to announce its first euro green bond.

Three sub-investment grade borrowers printed deals in the high yield corporate bond market on Thursday using different tenors to raise a combined €1.06bn.

Aside from the leveraged deals for Stada and Miller Homes, three sub-investment grade borrowers printed deals in the high yield corporate bond market on Thursday. The three issuers all used different tenors to raise a combined €1.06bn.

Nordea’s order book was more than twice oversubscribed for a €2bn deal across two tranches on Tuesday, while Swedbank also found demand for a sterling deal. The deals suggest that, despite tight spreads, investors are not deterred from senior preferred from the right names.