Nordea Markets

Russian steelmaker Evraz has been in talks with banks for a syndicated loan for some time, but bankers said this week that the firm will likely stick to bilateral loans instead.

Mölnlycke, the Swedish maker of wound dressings and surgical gloves, issued a €500m eight year bond on Monday, as the corporate bond market’s awakening from earnings blackouts continued apace.

Nordea Bank received strong demand for its first tier two debt in euros since 2012 on Monday, as the primary market remained otherwise empty.

Finland’s Municipality Finance has edged nearer to its funding goal for the year with a pair of Norwegian krone bonds, its first prints in the currency since early 2014.

Aktia Bank launched and priced its first ever Swedish krone bond on Monday, in a deal that could trigger more issuance in the currency as borrowers hunt for investor diversity.

Bravida, the Swedish electrical, heating, plumbing and ventilation systems installer, started trading today (Friday), after having priced its initial public offering at the midpoint of its original price range.

Covered bonds issued this week by Nordea Finland and DNB Boligkreditt went surprisingly well as, despite being the largest ones on offer, they were the most highly oversubscribed and subsequently posted the best performance.

Bravida, the Swedish electrical, heating, plumbing and ventilation systems installer, closed the institutional book for its IPO at noon on Thursday, and was doing allocations on Thursday afternoon. Pricing is expected to come on Friday morning.

This week began with three small euro offerings on screens from Landsbankinn, Carrefour Banque and NordLB as investors and issuers remained defensive after a recent run of gains in equities was met with a loss on Monday.

Bravida, the Swedish electrical, heating, plumbing and ventilation systems installer, narrowed the price range of its IPO on Tuesday morning, inside the top half of the original range, meaning the deal is likely to raise at least Skr2.8bn (€305m).

Bravida, the Swedish plumbing, heating and electricals group, this week launched the bookbuilding phase of its initial public offering in Stockholm.

Hellman & Friedman is acquiring a majority stake in the Swedish company Securitas Direct with a €2.7bn financing package involving bonds and loans — but market sentiment remains downhearted.