Nordics
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Nykredit issued the first contractually bail-inable senior debt on Monday, in a well-received deal that could set the tone for the growth of the asset class in Europe. -
An auction this month to settle credit default swaps referencing Norske Skog will produce wildly divergent recoveries for investors at different maturities, terms published by the International Swaps and Derivatives Association (ISDA) have confirmed.
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Augustus International, a vehicle for IK Investment Partners, has sold its 15.3% stake in Attendo, the largest private healthcare company in Scandinavia, through an accelerated bookbuild run by SEB and Carnegie on Thursday night.
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DNA Ltd, Finland’s third largest mobile phone operator, is considering a second attempt at an IPO as part of its strategic review, nearly three years after shareholders voted against going public.
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The wave of rights issues and capital raisings in the market this summer is so far going smoothly, with good news this week for Banco Popular Español, as its shares and rights perked up in trading.
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After a slow start to the week, a torrent of covered bonds was priced on Wednesday and Thursday, as issuers sought to move quickly in case the market succumbs to one of many potential political risks it faces this month.
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Ahlstrom, the Finnish fibre based materials manufacturer, has extended the maturity of its €180m credit facility with the approval of all of its lending banks.
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The swathe of rights issues set to form a big part of Emea equity capital markets activity this side of the summer has moved forward this week, with the conclusion of Dubai Parks and Resorts’ deal and the launch of SSAB’s prospectus.
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Siem Industries, a Cayman Islands-based holding company with diverse interests, issued on Thursday its third exchangeable bond into shares of Subsea 7, the underwater construction company listed in Oslo.
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A pair of issuers reopened the 10 year part of the dollar curve for sovereigns, supranationals and agencies this week, but despite both trades gaining plaudits there is still scepticism over whether a $2bn-plus sized deal is possible.
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Nykredit Realkredit is set to sell the first in what could be a series of contractually bail-inable senior bonds from Danish banks, which are seeking a solution to additional capital requirements set by the national regulator.
