Nordics
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Danish agricultural company Dansk Landbrugs Grovvareselskab (DLG) signed its first syndicated loan on Tuesday, borrowing €625m from 13 banks. -
Steven Jensen is leaving his loan syndication sales position at Nordic bank SEB in London to join Norwegian bank DNB.
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Debut benchmark covered bonds issued this week by Banco di Desio e della Brianza and Nykredit were preceded by Danske Hypotek’s inaugural deal, and with new names expected to follow later this year, the number of active issuers should reach new heights.
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Nordea announced on Wednesday it would move its administrative headquarters from Sweden to Finland, allowing it to submit to supervision by Europe’s Single Supervisory Mechanism.
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After the US public holiday on Monday restricted trading, the equity block trades market in EMEA reopened spectacularly this week, with a rush of large deals from across the region.
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Europe’s IPO market gained two more deals of very different flavours on Tuesday when Rovio, the Finnish developer of the Angry Birds mobile phone game, and Charter Court Financial Services, the UK specialist mortgage lender, both filed intention to float documents.
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Nykredit Realkredit attracted demand of over €1.5bn for its debut syndicated covered bond this week, a deal which despite being issued in rare floating rate format was readily absorbed by a new diversified group of mainly bank treasury investors.
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The euro market sprang to life in earnest this week, producing three well-received benchmarks but, given a risk-laden backdrop and monetary policy outlook, some SSA bankers are surprised to see investors so eager to put their cash to work.
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Europe’s equity block trade market made an impeccable start to its autumn season on Wednesday night, when two repeat sellers brought trades in familiar, recently floated stocks, and both found strong demand.
