Nordea Markets

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.

Nets, the Nordic digital payments processor, fell on its first day of trading in Copenhagen, after completing a Dkr15.75bn ($2.4bn) IPO that won very strong demand and was priced highly.

Swedish banks may have to pay more than their European peers to issue Additional Tier One (AT1) and Tier Two bonds, after the country’s government included plans to tax the securities in its 2017 budget.

Nets, the largest digital payments processor in the Nordic region, will close the books for its Dkr10.4bn to Dkr16.8bn ($1.6bn-$2.5bn) IPO two working days early after receiving strong demand.

Several European IPOs are progressing through bookbuilding this week, as issuers take advantage of a window of calm before the uncertainty of the US election in just over seven weeks time.

Deutsche Bank issued a 2022 Norwegian krone bond on Wednesday, colouring its curve in the Nokkie market.

Nets, the largest digital payments processor in the Nordic region, has announced the price range for its Copenhagen IPO, which values the business at up to $4.8bn, almost double the price its private equity owners Advent and Bain paid for the company in 2014.

Danish payment systems firm Nets has agreed €1.4bn of loans with a new bank group to refinance debt ahead of its initial public offering. The loans are denominated solely in euros which is an increasingly popular currency for lenders, said a banker on the deal.

Demand for the €500m bond from Swedish property owner Hemso Fastighets on Tuesday confirmed Nordic momentum in the corporate market.