Nordics
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Three year maturity fills important funding gap for highly rated names, say lenders -
◆ Novo Nordisk brings €6bn trade days after CEO leaves ◆ Tranches priced with similar premiums ◆ No sign of investor fatigue for jumbo corporate trades
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Company calls on its relationship banks to bump up the size of its RCF
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◆ Eika picks sevens for second deal of 2025 ◆ Investor limits restrict pricing ◆ Single digit premium paid
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◆ Small books do not mean small deals ◆ Norwegian trade lands tight to Pfandbriefe ◆ Next to no premium paid
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Lenders in Nordics say there is pressure to sign deals before 90 day US tariff reprieve ends
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Issuer was originally looking at a $1bn trade but found healthy demand
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The company has refinanced and increased its loan by another €100m
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◆ Textbook tightening ◆ Stable conditions open up market ◆ 60% of funding expected to come by June
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Spreads over Treasuries are tight but hope is that ‘others will follow’
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UK's Mark Capital turns to investment management company for funding
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IG corporate investors have preferred bonds with higher ratings since tariff chaos began
