Nordics
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Shares in Terveystalo Healthcare, the Finnish private healthcare business owned by EQT Partners, rose 7% on Wednesday morning after they began trading in Helsinki. The company's IPO closed a day early due to the strength of demand.
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Borr Drilling, a Bermuda-registered, Oslo-headquartered offshore oil drilling company, has raised $650m with a 51% capital increase that was placed in an accelerated way on Friday evening. -
On Monday, Statnett, the Norwegian state electricity grid company, mandated banks for its debut benchmark bond issue in euros. This followed German power utility RWE announcing the results of its recent tender offer on Friday.
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The IPO of Handicare Group, the Swedish maker of stair lifts and mobility products, is multiple times covered at its fixed price of Skr50.
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Finland’s Aktia Bank sold a sub-benchmark three year floating rate deal on Wednesday, attracting attention despite competition from five other financial institutions in the euro market.
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Rovio Entertainment, the Finnish developer of the Angry Birds mobile game, has had a bumpy start to its stockmarket life, as the initial pop in its share price fizzled out on Friday afternoon and the stock fell on Monday to 2.9% below its IPO price.
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Norsk Hydro completed its buyout of fellow Norwegian aluminium producer Sapa, valued at Nkr27bn ($3.38bn) on Monday, drawing in part on its existing five year revolving credit facility.
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Finnish covered bond issuer SP Mortgage Bank has appointed leads for a roadshow that is scheduled to finish in mid-October. As only two Finnish covered bonds have been issued this year, a warm reception is assured for the rare offering.
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This week's funding scorecard looks at the progress Nordic agencies have made in their funding through the first half of 2017.
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The debt restructuring saga at Norwegian paper company Norske Skog took a sharp turn this week wherein a breakthrough with senior investors was quickly waylaid by a group, claiming to represent more than half of the company’s unsecured creditors, rejecting the latest proposal.
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Public sector borrowers this week smashed through their conventional curves with green bond issues. But there was some debate over whether this marks the start of a trend or is merely the product of scorching conditions in both the euro and dollar markets.
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