Nordics
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Equity block trade business came back to life this week, as sellers hastened to monetise stakes before the US presidential election. -
Caja Rural Navarra is planning the first green covered bond of the year. It follows a trio of covered bonds issued by Australian banks and the first transaction to be issued from Nordea in more than a year.
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SpareBank 1 SR-Bank raised €500m of 5.25 year senior funding on Thursday, though the order book may have been suppressed amid a series of central bank meetings and ahead of the US elections on November 8.
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The newly established mortgage issuing subsidiary of Nordea Bank has mandated leads to roadshow its first deal from its Finnish programme.
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AP Møller-Mærsk is tonight selling its remaining 1.6% stake in Danske Bank in an accelerated bookbuild worth Dkr3.35bn (€450m) before any discount. The deal breaks a quiet patch for block trades in Europe.
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Shares in Ahlsell, the Swedish wholesaler of plumbing and electrical installation products, have traded strongly since its Skr6bn ($671m) Stockholm IPO, ending Thursday 13% above their IPO price.
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Moody’s has assigned a provisional Aaa rating to Stadshypotek’s Danish covered bond programme. The issuer has three other programmes backed by Finnish, Swedish and Norwegian collateral. All four programmes are established under Swedish law.
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Finnish construction company YIT has completed a €200m deal with six core banks. The company saw one original lender replaced in an otherwise unchanged syndicate.
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DNA Ltd, Finland’s third largest mobile phone operator, has decided after a strategic review to embark on a second attempt at an IPO, more than three years after shareholders voted against going public.
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Austria was richly rewarded for taking a leap into the unknown on Tuesday, as it took orders of over €7bn for the longest dated syndication ever from a core eurozone sovereign. KommuneKredit also broke its tenor record in euros, while the European Financial Stability Facility hired banks for a tap of a bond that looks short end by comparison.
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Tele2, the Swedish telecommunications operator, has announced the terms for its Skr3bn ($356m) rights issue.
