Nordics

Gjensidige Forsikring, the second largest shareholder in Norway’s Sparebank 1 SR-Bank, has tonight launched a block trade to sell a 5.7% stake in the bank, worth about Nkr690m (€77m) before any discount.

Swedish financial services firm Lindorff has signed €225m in loans to fund its non-performing loans business and to reduce the group's reliance on its revolving credit facility.

Rising oil prices are said to be behind the strong reception Norway’s DNB got on Tuesday when it reopened the dollar Reg S market for additional tier one (AT1) paper.

Finland’s largest private lessor, VVO Group, sold its second euro bond on Monday, with orders coming from Nordic and, for the first time, other European investors.

Misys, the UK banking software company owned by Vista Capital Partners, will make its return to the London Stock Exchange via an IPO in early November, the company said in an intention-to-float document on Thursday morning.

The revival of convertible bond issuance by the traditional issuer base of smaller, riskier companies continued at the end of last week with contrasting deals by Ship Finance International and Recipharm.

The covered bond pipeline grew this week as Ibercaja and BNP Paribas Fortis mandated leads for roadshows and Nordea signalled it could be ready to return soon.

Hannele Pokka, the Finnish minister for the environment said, in an exclusive interview with GlobalCapital, that she believes the ratification of the Paris Agreement, the first ever universal, legally binding climate accord struck in 2015, will spur on the green bond market’s development.

Block issuance has been active this week, with three notable accelerated bookbuilds all sold well. Monday also brought the announcement of what could be the largest IPO in London this year.

Two equity block trades came out in the European market on Tuesday evening, both of which achieved successful sales.

Kommuninvest has selected banks for a bond expected to break the size record for green bonds denominated in Swedish krona.

Nets, the largest Nordic digital payments processing company, has confirmed that Deutsche Bank stabilised its share price after its IPO on September 23, when the company’s share price closed at Dkr145, down 3.3%, on its first day of trading.