Nordics
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Norwegian car parts manufacturer Kongsberg Automotive is refinancing loans in the high yield market with a deal that offers investors the biggest double-B coupon seen since April. -
A pair of European agencies have increased their funding target ranges for 2018 as they prepare for the second half of the year.
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Stadshypotek issued a €1bn seven year on Wednesday marginally wider than where DNB Boligkreditt recently issued its much larger green inaugural deal in the same tenor. It followed a €500m five year from Sparebank Vest Boligkreditt.
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Investors have squeezed better terms out of Mehiläinen, the Finnish healthcare group seeking a €1bn loan to finance its acquisition by CVC.
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Crédit Agricole and Münchener Hypothekenbank (MuHyp) found good demand for their covered bonds on Tuesday, but it was Crédit Agricole’s transaction that really stood out by virtue of its size and maturity, which until now had been viewed with trepidation.
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Opera’s planned $115m Nasdaq IPO now has a cryptocurrency angle after Bitmain, a Chinese bitcoin miner, joined the deal as an anchor investor.
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Voters rewarded a five year dollar print from Finnvera — the first in that tenor from a European SSA since March — with strong scores across the board.
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Sparebanken Vest Boligkreditt has mandated joint leads for a five year euro benchmark covered bond that will likely launch on Tuesday.
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Municipality Finance grabbed the opportunity of being the only SSA dollar issuer this week to bring a very strong trade, paving the way for other borrowers to tap the currency.
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Tuesday’s senior issue from AIB Group struggled to get over the line, and sent a message to the market about waning investor demand for all but the safest bonds.
