Nordics
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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.
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Two equity block trades came out in the European market on Tuesday evening, both of which achieved successful sales.
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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.
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Nordea Bank Finland has been dissolved and its mortgage bank business has been transferred to a new covered bond issuing entity, suggesting it could be ready to return to the covered bond market after an absence of exactly one year.
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Nordic telecoms company TeliaSonera has signed a €1.5bn five year credit facility with thirteen banks, refinancing a seven year deal signed in 2010.
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Stadshypotek attracted a wealth of demand on Monday for its first covered bond backed by Finnish mortgages, and priced the deal much tighter than initially indicated with few investors falling out.
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Shares in Internationella Engelska Skolan, a leading Swedish international school operator, traded as much as 44% above their initial price on Thursday morning after the company completed its $70m IPO on the Nasdaq Stockholm.
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Finnish companies could be on course for record loan issuance in 2016, according to one syndicate banker in the country.
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Municipality Finance has made its long awaited entrance into the green bond market with a dollar five year on the same day that a new green exchange launched.
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Stadshypotek attracted a robust following for its first covered bond backed by Finnish assets, and even though the final spread was much tighter than leads initially indicated, few investors fell out.
