Nordics

KommuneKredit will hit the road next week to talk up a new green bond, while a fellow Nordic issuer is looking to enter the social bond market — although not for some time yet.

KommuneKredit will hit the road next week to talk up a new green bond, while a fellow Nordic issuer is looking to enter the social bond market — although not for some time yet.

Credit Suisse found itself long of stock in Neste Corp, the Finnish oil refiner, after an €861m sale of shares by the Finnish government on Tuesday night. The failed block trade has prompted equity capital markets bankers to ask whether the market has become much more unforgiving this year, writes Aidan Gregory.

Arion Banki, the first Icelandic bank to list shares since the financial crisis, is set to price the sale at the top of its revised range.

A €861m selldown of shares in Finnish oil refiner Neste Corp by the government of Finland on Tuesday night failed to clear, leaving the bookrunner holding a residual position.

Kommuninvest on Tuesday took advantage of a quiet dollar market to sell its largest ever deal, despite only offering a concession of 2bp, according to the lead managers.

Solidium, the investment company owned by the government of Finland, has sold a chunk of its stake in Stora Enso, the Finnish maker of pulp and paper, via a block trade that was multiple times oversubscribed, according to a banker involved in the deal.

Sweden’s Lundin Petroleum has slashed 90bp off the margin of its $5bn reserves-based lending facility, as borrowers continue to heap pressure on lenders over pricing.

DNB Boligkreditt priced its inaugural green covered bond this week, paying a smaller new issue premium than core European names, but still attracting a large and granular order book in a short time frame.

Kommuninvest is out with a dollar trade in what bankers expect to be a fairly quiet week bisected by a likely target rate hike by the Federal Open Market Committee.

Sparebank 1 Boligkreditt took advantage of a slight improvement in sentiment on Monday to issue a €1bn five year covered bond while Møre Boligkreditt issued a sub-benchmark deal. The two banks followed DG Hyp which issued a nine year benchmark.

Netcompany, the Danish IT service firm, which priced its Copenhagen flotation on Wednesday, saw its share price rise by 29.6% on its first day of trading.