Nordics

BC Partners has sold 13.2% of Com Hem, the Swedish provider of cable television, broadband and telephone services, for Skr2.3bn ($275m), through an accelerated bookbuild launched on Monday night.

Investors wasted no time posting orders for Sparebank Vest Boligkreditt’s covered bond issued on Tuesday, a deal which ticked all the right boxes for maturity and spread, despite concerns from Moody's about the sustainability of Norwegian house prices.

Sweden’s Molnlycke got in early this week with a €500m eight year trade, as bond bankers said that the euro market is ready to ramp up again in the coming days.

Danske Bank showed enduring demand for five year covered bonds on Monday when it issued the first Danish covered bond in euros this year. In common with other deals issued in this part of the curve, the bonds quickly attracted a well oversubscribed order book.

Santander Consumer Bank Norway was nearly five times oversubscribed for a €500m three year on Monday, sucking up demand for an undersupplied part of the curve.

The UK Debt Management Office has opted to reopen an index linked Gilt maturing in 2065 for its sixth and final syndication of the 2016/17 financial year. Meanwhile, Municipality Finance opened sterling issuance for the week with a December 2020 issue.

Cicero, the climate research institute at Oslo University, has produced a report to help investors work out where they face risks from climate change, with red, orange and yellow flags for the severity and immediacy of threats.

Europe’s equity block trade market kicked into a higher gear this week, with a rush of deals including big trades in Lonza, Worldpay and Dong Energy. The Dong trade on Thursday night, worth Dkr6.5bn (€874m), pushes the week’s total above €3bn.

A euro deal is imminent for India’s Motherson Sumi Systems (MSSL) as it completes its acquisition of Finland’s PKC Group.

After four busy weeks, European corporate bond market on Wednesday was deserted but for a benchmark deal from Avinor, the Norwegian state-owned airport operator.

RenoNorden, the struggling Norwegian waste management company, on Monday launched a highly dilutive rights issue to avoid breaking its debt covenants after losses in 2016, but investors appeared to welcome the news, sending the shares up 6.4%.

Shares in Diös Fastigheter, the Swedish property company, closed 4.5% higher on Thursday after it completed its Skr1.85bn ($209m) rights issue to partly finance the acquisition of a portfolio of mainly commercial and retail properties from Castellum in cities in northern Sweden.