Nordics

Munters, the Swedish maker of air conditioning systems, has set the terms for its IPO on the Nasdaq Stockholm, which, if completed, will value it at Skr10.1bn (€1.05bn).

Equity block trading began smartly on Monday evening after Emmanuel Macron generated relief across markets by winning the French presidency on Sunday. Goldman Sachs brought two trades for its own private equity arm.

KfW is set to bring its first green bond in euros in nearly a year, with the deal coming amid a flurry of conventional trades in the currency. KommuneKredit is also in the SRI pipeline, after running a roadshow to introduce its green bond framework.

Danske Bank is restructuring its Finnish subsidiary in a move similar to Nordea’s last year and has requested investors’ consent to change terms, which will not have a rating impact, in return for a 10bp fee. The change could prevent the issuer from returning to the market soon.

The public sector dollar market is set to put a series of obstacles behind it to resume full pace next week — but issuers may opt to instead take advantage of sumptuous conditions in euros.

Volvofinans Bank is preparing to issue Europe’s second green bond from the automotive sector. While the deal is already attracting interest from investors, its use to finance hybrid and electric cars may not tick the green box for all investors.

Sparebanken Sør Boligkreditt has mandated joint leads for a roadshow to market its second euro covered bond.

Telia, the Nordic telecoms group, came to market on Wednesday night with a large block trade in Turkcell, the Turkish firm in which it owned 38% directly and indirectly.

Morten Skaaning has returned to Danske Bank’s debt capital markets syndication desk after spending nearly three years at Arbejdernes Landsbank.

Volvofinansbank today announced it would meet investors in Stockholm on Monday May 8 to present a framework for its inaugural green bond. The deal will be one of the few green bonds from the automotive sector.

Bank Nederlandse Gemeenten has tapped a 10 year Australian dollar bond twice in a week, raising A$155m ($116.7m) from central Asian and Japanese investors.

Medicover, the Swedish diagnostic services provider, on Tuesday joined the growing number of European companies seeking to go public before the summer, announcing its intention to float on Nasdaq Stockholm.