Nordics
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Nets, the Nordic digital payments processor, fell on its first day of trading in Copenhagen, after completing a Dkr15.75bn ($2.4bn) IPO that won very strong demand and was priced highly.
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Swedish banks may have to pay more than their European peers to issue Additional Tier One (AT1) and Tier Two bonds, after the country’s government included plans to tax the securities in its 2017 budget. -
Nets, the largest digital payments processor in the Nordic region, will close the books for its Dkr10.4bn to Dkr16.8bn ($1.6bn-$2.5bn) IPO two working days early after receiving strong demand.
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Telenor sold $1.5bn of shares in VimpelCom, the Russian telecoms company, this week, in a combined equity placing and exchangeable bond that were well received, despite the Uzbek bribery scandal that engulfed both companies last year.
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Tobacco product manufacturer Swedish Match stepped into the euro corporate bond market on Wednesday to cut its financing costs.
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Kommunalbanken (KBN) on Tuesday took advantage of Lael Brainard's, a US Federal Reserve governor, dovish comments on US rates from the day before to eliminate any premium paid on its new five year dollar benchmark.
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Nets, the largest digital payments processor in the Nordic region, has announced the price range for its Copenhagen IPO, which values the business at up to $4.8bn, almost double the price its private equity owners Advent and Bain paid for the company in 2014.
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Danish payment systems firm Nets has agreed €1.4bn of loans with a new bank group to refinance debt ahead of its initial public offering. The loans are denominated solely in euros which is an increasingly popular currency for lenders, said a banker on the deal.
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Arvid Svensson Invest has sold a 9.5% stake in Klövern, the Swedish real estate company, for Skr880m ($104m), via an accelerated book-build launched on Thursday evening.
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Guarantor: Certain Swedish county councils and municipalities
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The dollar market enjoyed another strong week with a group of issuers printing, but borrowers are looking ahead to a new wave of interest from bank treasuries in Asia — and some are reporting that the demand has already arrived.
