Nordics
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Bank Nederlandse Gemeenten brought a 10 year dollar benchmark this week that sparked much debate about whether other issuers would be able to follow in the tenor. Although with a flurry of other trades this week, it is clear that other options are available once next week’s US Federal Reserve meeting is held.
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Humana, the care provider, announced on Thursday its intention to float in Stockholm later this month. It is the second Swedish company to launch an initial public offering in the past week. -
North Energy, the Norwegian oil and gas exploration company, signed a Nkr950m($112m) exploration financing agreement on Tuesday with two banks.
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Swedish call centre operator, Transcom Worldwide, has changed the make-up of its bank group in an otherwise straightforward refinancing deal signed on Wednesday.
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Nordea issued a notice on Friday seeking the consent of covered bond investors to agree to the terms of a deed poll and a new guarantee mechanism that will align its Finnish covered bond programme with its Danish, Norwegian and Swedish programmes. Moody’s says the proposal will not affect the credit rating.
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Swedbank kicked off what could be a wave of FIG floating rate notes priced above par this week, protecting issuers from a negative quarterly Euribor rate that the European Central Bank could force even lower next week.
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Goldman Sachs sold a Skr2.4bn ($281m) block of B shares in Loomis on Wednesday. The Swedish cash handling firm took a serious hit in trading the next day.
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John Fredriksen, the Norwegian shipping magnate, sold a Nkr4.4bn ($510m) block of shares in seafood firm Marine Harvest on Tuesday evening — a rare liquidity event in one of the few Norwegian stocks not exposed to oil.
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Swedbank was set to price a three year floating rate note well above par on Thursday, potentially limiting demand but showing the way for other borrowers in a era of negative rates.
