Nordea Markets

Shares in B2 Holding, the Norwegian consumer debt collection company, have held steady after it concluded its Nkr650m ($80m) IPO in Oslo to fuel growth in its existing markets.

Nordic IT company Evry, 88% owned by Apax Partners, has tightened pricing on its €275m dividend recapitalisation term loan ‘B’.

Of the five IPOs due to reach completion this week, Norway’s B2 Holding finished its bookbuild today and Dong Energy has put out final guidance. Van Lanschot has also just revised its guidance. The other two — ASR Nederland and Basic-Fit — have still to refine their original price ranges.

Dong Energy has narrowed the price range for its IPO, cutting off the bottom end of the range, after a banker on it said: “it’s about as strong an IPO as we’ve seen in a long time”.

Norwegian debt collector B2Holding has narrowed the price range for its IPO to between Nkr11.50 and Nkr12 a share.

Verisure, the B2/B rated Swedish alarms systems company, had accelerated commitments due at 3pm on Thursday for its €1.02bn term loan ‘B’.

Ahlstrom, the Finnish fibre based materials manufacturer, has extended the maturity of its €180m credit facility with the approval of all of its lending banks.

The swathe of rights issues set to form a big part of Emea equity capital markets activity this side of the summer has moved forward this week, with the conclusion of Dubai Parks and Resorts’ deal and the launch of SSAB’s prospectus.

Minority shareholders in Evry, a Norwegian IT company controlled by Apax Partners, were dismayed to learn this week that Apax had not told them it planned to extract a €203m dividend from the firm, even as it is trying to buy them out, writes Max Bower.

Dong Energy began the bookbuild for its Copenhagen IPO on Thursday, at a price range of Dkr200 to Dkr255 a share, which would give it a market cap of Dkr83.5bn to Dkr106.5bn ($12.5bn-$16bn).

The Nordic loan market is set to enjoy a bumper second quarter of refinancing, with investment grade companies launching chunky deals ahead of the summer holidays.

Monday night’s three equity block trades in Europe all led to decent trading in the stocks on Tuesday. They included CVC’s exit from Evonik Industries – scooped on a sole basis by JP Morgan, though Bank of America Merrill Lynch has worked on most of these deals.