Nordics

Kommuninvest was able to get more than enough demand for a rare three year dollar benchmark on Tuesday, despite the deal being priced at a level that onlooking SSA bankers said was flat to fair value.

Finnvera is aiming to raise an additional €500m for its funding programme this year as a result of a surge in the agency’s lending.

Kommuninvest hit screens on Monday for the first dollar benchmark by a Nordic public sector borrower since August.

Kommuninvest has increased its funding needs for the year, as it prepares for the final quarter.

Kommunalbanken has delayed its green bond benchmark comeback, following its first Kangaroo issue in the format last month.

Schibsted, the Norwegian media group, has officially kickstarted the process of spinning off its online classified advertising business as an independently listed company, expected in 2019.

Nasdaq Clearing said early on Monday that it had replenished 90% of its member default fund, adding it had “no indication” that a member would shirk on its commitments. The deadline for replenishment is on Monday.

Exchange and tech group Nasdaq has made a $190m all cash offer to buy Cinnober, the Swedish Fintech company.

A Norwegian trader lost millions on Wednesday in a bad bet on the German and Nordic power markets, putting other members of Nasdaq Clearing on the hook for €107m in losses. The clearing house withstood the test to its capital buffers, but Nasdaq must be clear about what went wrong and what steps need to be taken to maintain confidence in its systems.

Swedish bank SEB has appointed a new head of large corporate coverage in the UK, luring a managing director from Santander.

Geely’s delay of the Volvo Cars IPO this week, in light of trade tensions between the US and China, will leave a large hole in this autumn’s pipeline.

Swedbank returned to the euro market for a new tier two bond on Tuesday, more than a year after setting a record tight for spreads in the asset class.