Nordics

Songa Offshore, the Norwegian oil drilling company, has made a strong start to its attempt to raise $125m of new money with a convertible bond, as part of a distressed debt restructuring.

Norske Skog, the Norwegian producer of publishing paper, has told GlobalCapital that its plan to ensure its long term funding is going ahead, although Moody’s has warned of a default looming.

Danske Bank’s €1bn five year senior transaction was more than four times subscribed on Wednesday, as the Danish borrower took advantage of a strong market open to launch the day’s only FIG deal in the European primary market.

Lehto Group, the Finnish construction and real estate firm, said on Tuesday that it intended to float in Helsinki, in a deal that would consist primarily of new shares.

Following approval of its demerger plan, Nordea has managed to get the consent of bondholders to transfer the assets and liabilities affecting 31 of its Finnish covered bonds to a new entity with a new guarantee. However, it does not yet have investors’ consent on six remaining deals.

Humana AB, the Swedish company that provides care for the elderly, disabled and mentally ill, traded up 19% on its Stockholm debut on Tuesday, but fell back on Wednesday.

Humana AB, the Swedish company that provides care for the elderly, disabled and mentally ill, is set to begin trading on Nasdaq Stockholm on Tuesday morning, after completing a successful IPO of about Skr832m ($100m).

Lundin Petroleum, the Swedish oil and gas exploration company, has increased the size of its reserve-based bank facility and signed a short-term credit facility agreement to protect itself from further oil price volatility.

Orkla, a Norwegian supplier of branded consumer goods, sold 11.94m shares in Swedish aluminium firm Gränges on Thursday, through an accelerated bookbuild that raised Skr824m ($100m).

Two borrowers from Denmark and Norway launched their first euro denominated covered bonds this week, expanding the number of issuers to a new record.

Kommuninvest

Kommuninvest’s long-awaited first foray into the green bond market was finally priced on Wednesday and Municipality Finance plans to follow with a green debut of its own later this year. Kommuninvest’s deal came just two days ahead of NWB Bank’s 10 year dollar deal which opens books on Friday.