Nordics
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Swedish smelting and mining company Boliden has signed €1.39bn in loans, although the borrower was initially planning a larger deal, said a banker close to the financing. -
Sydbank had a difficult return to the senior market on Monday, with the leads unable to revise pricing and the order book falling short of the €500m deal size.
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Danish agency KommuneKredit has selected four banks to sell a five year no-grow $1bn bond in a dollar market that shows no signs of slowing down.
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An auction to settle Norske Skog credit default swaps will take place in June, after ISDA’s determinations ommittee agreed to an initial list of deliverables for the restructuring credit event — despite not having been able to gain access to a crucial document governing the terms of the firm’s guaranteed bonds.
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Arla Foods, the unrated Danish dairy cooperative, on Monday printed Skr1bn of notes, with issuance in the Nordic currency still lagging 28% behind last year’s figures.
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Sanoma, the unrated Nordic media group, sold a €200m unsecured bond on Thursday to redeem some of its old notes due next year.
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Norwegian issuer SR Boligkreditt and New Zealand borrower Westpac NZ will both take new euro deals on the road before the end of May, and the UK’s TSB has confirmed covered bonds will form part of its long term funding.
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This week’s steady run of one equity block trade a night in the European market continued on Thursday with the biggest deal so far, as Bpifrance, the French state investment fund, launched a €500m sale of more than half its holding in Eiffage, the construction and concessions group.
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Stockholm County Council’s third green bond — a September 2021 note — has met with strong demand and sold with a negative new issue premium. Région Île-de-France is looking to follow suit, selecting four banks for a green bond roadshow.
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Plans to settle Norske Skog credit default swaps by auction were still at an impasse on Thursday, after ISDA’s EMEA Determinations Committee was unable to find crucial paperwork despite meeting three times this week.
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Swedish power company Electrolux has refinanced a €1bn credit facility in a loan market being kept busy with deals for Nordic borrowers.
