Nordics

LBBW, OP Mortgage Bank and The Mortgage Bank of Finland took little time to sell their benchmark euro deals as, despite the relatively meagre yields on offer, the bonds offered a substantial spreads compared to negative yielding German government bonds.

Sweden's largest oil refiner, Corral Petroleum Holdings, sold on Friday €625m-equivalent of payment-in-kind toggle notes after dropping dollars for Swedish kronor.

Lehto Group, the Finnish modular construction company, pulled off the rare feat of pricing its IPO at the top of the range this week, and then saw the stock rise 15% on its debut on Thursday.

Three public sector borrowers issued sterling this week, taking proceeds in the currency to their highest level in months as fears over the United Kingdom leaving the European Union receded.

Corral Petroleum Holdings, Sweden's largest oil refiner, on Wednesday released double digit price guidance for its $700m-equivalent of payment-in-kind toggle notes, as it meets investors in the US this week.

Tuesday and Wednesday brought a pair of private equity block trades following first quarter results, but nothing to match the fireworks of Monday night, when Credit Suisse placed £1bn of stock in SABMiller for Kulczyk Investments at a 0.88% discount.

Nynas, the Swedish bitumen and speciality oils producer, has signed €650m of loans in an oversubscribed deal with six banks.

A pair of SSA borrowers returned to the Norwegian krone market this week for the first time this year, taking advantage of better funding conditions in the market.

Finland is to tap £100m of its December 2020s amid signs of confidence in the sterling market as the risk of a British exit from the European Union falls.

Norwegian Air Shuttle (NAS), the low-cost airline, could become the first Nordic borrower to issue this year in the European high yield bond market.

Bookbuilding has begun for three Nordic IPOs, continuing a strong run from the region, which has produced 12 completed IPOs so far in 2016, out of 51 altogether in EMEA.

Despite the difficult start to the year, global financial exchanges have continued to expand their coverage of world markets with new listed products.