Nordics
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Sparebanken Sør Boligkreditt issued its second ever covered bond and, similar to deals issued last week, was able to price flat to its curve. But its bonds are not eligible for the ECB's purchase programme, unlike some of last week's tightest issues, which could limit performance potential. -
Finnish insurer Sampo kicked off the week with a tightly priced senior offering on Monday, taking advantage of renewed calm in the financial institutions bond market.
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Sparebanken Sør Boligkreditt finishes its roadshow on Friday and is expected to issue a €500m deal early next week said leads. Banco Comercial Portugues and Rabobank also finish their roadshows on Friday and could well be expected to emerge next week.
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Shares in Munters, the Swedish climate control systems group backed by Nordic Capital, traded as much as 26% above their offer price on Friday after they began trading on Nasdaq Stockholm after its Skr4bn (€422m) IPO.
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A swirl of allegations surrounding US president Donald Trump this week added a rally in US Treasuries to already tightening dollar swap spread, creating an uncertain environment for public sector issuers considering dollar deals next week.
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Guarantor: Swedish local government members
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Japanese investors are snapping up Russian rouble MTNs and Uridashi in their search for higher yields, with SSAs the beneficiaries.
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Nordic low cost airline Norwegian Air Shuttle will meet investors about a tap of its only euro bond on Monday. This time, it also plans a new €370m deal in Norwegian kroner.
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CVC has launched the first ever block trade in Ahlsell, the Swedish wholesaler of plumbing and electrical installation products that floated in Stockholm in October 2016.
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The European Investment Bank is set to take a novel approach to green bond issuance, after mandating for a dual tranche dollar deal — of which only one leg is a Climate Awareness Bond. Like Kommuninvest, which printed a four year dollar green bond on Tuesday, the supranational may have to contend with volatile dollar swap spreads.
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Carl Hagerman is due to leave his role as bond syndicate manager at SEB’s Stockholm office and take up the position of senior originator and team leader on its corporate debt capital markets desk in Germany.
