Nordea Markets

Valmet, the Finnish technological services company, has refinanced a €200m facility first signed in May 2013. The company swapped two of the original lenders with new banks.

The IPO of Ahlsell, the Nordic distributor of plumbing and electrical products, got covered at its maximum size within 24 hours of the launch of its bookbuild on Tuesday afternoon.

Nets, the Nordic payment processing group whose shares have fallen 13% since their IPO three weeks ago, has reassured shareholders that it will not suffer materially from Nordea’s decision to change its mobile payments joint venture in Denmark and Norway.

Finland’s largest private lessor, VVO Group, sold its second euro bond on Monday, with orders coming from Nordic and, for the first time, other European investors.

With one quarter left of 2016 to go and global issuance 22% down, the equity capital markets bookrunner race is going into its final straight. Familiar faces are leading the pack, but incumbents in general are having a tough year.

Misys, the UK banking software company owned by Vista Capital Partners, will make its return to the London Stock Exchange via an IPO in early November, the company said in an intention-to-float document on Thursday morning.

The covered bond pipeline grew this week as Ibercaja and BNP Paribas Fortis mandated leads for roadshows and Nordea signalled it could be ready to return soon.

Block issuance has been active this week, with three notable accelerated bookbuilds all sold well. Monday also brought the announcement of what could be the largest IPO in London this year.

Two equity block trades came out in the European market on Tuesday evening, both of which achieved successful sales.

Nets, the largest Nordic digital payments processing company, has confirmed that Deutsche Bank stabilised its share price after its IPO on September 23, when the company’s share price closed at Dkr145, down 3.3%, on its first day of trading.

Nordea Bank Finland has been dissolved and its mortgage bank business has been transferred to a new covered bond issuing entity, suggesting it could be ready to return to the covered bond market after an absence of exactly one year.

A trio of banks tapped the dollar market either side of the Fed meeting to lock in cheap financing in anticipation of tighter issuance windows in the coming weeks.