Nordea Markets

SP Mortgage Bank, the newly established Finnish lender, successfully issued its first covered bond on Tuesday. The defensive five year maturity, which has not been seen from a core European issuer in over five months, went a long way to assuaging investors’ broader market anxieties.

Nordea has appointed its co-head of markets equities Martin Persson head of wholesale banking, effective from Monday

Covered bond supply surged to its highest levels in seven months this week, as issuers scrambled to raise funding before the end of the year and costs soar even further.

Issuers and their bankers have been too slow to react to the swift change in sentiment since the US election. Deals this week out of sync with investor demand from BBVA and ANZ proved it.

Issuers and their bankers have been too slow to react to the swift change in sentiment since the US election. That oversight became glaringly obvious this week with deals from BBVA and ANZ, but the mood swing was clear well before that.

Swedish speciality chemicals group Perstorp priced €1bn-equivalent of high yield bonds on Tuesday, grabbing the attention of investors with triple-C paper against an uncertain backdrop.

DNA, one of Finland’s largest telecommunications companies, has begun bookbuilding for its IPO after announcing the terms on Monday evening.

Nordea Mortgage Bank (NMB) has successfully issued its first deal. The choice of tenor, along with the issuer’s strong credit profile, and strong sentiment towards the Nordic region, were instrumental in achieving the positive outcome.

The European high yield market this week proved that it has learned at least one lesson from its Brexit experience: the unexpected does not mean market shutdown.

Sp Mortgage Bank, the central bank for Finnish savings banks, has mandated joint leads for a European roadshow to market its first covered bond.

Cable company Com Hem has been sounding investors since Wednesday for a new issue in Swedish krona to redeem its old Skr2.5bn bonds due 2019, adding Swedish momentum to the Nordic corporate high yield bond market.

Sp Mortgage Bank, which is the central bank for Finnish savings banks, has mandated joint leads for a European roadshow to market its first covered bond.