Nordics
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Danske Bank launched its largest ever share buyback on Tuesday, having exceeded its regulatory capital requirements by more than expected. -
Commonwealth Bank of Australia (CBA) funded itself more cheaply with a 15 year covered bond than it did with a five year this week. It followed Swedish Covered Bond Corporation (SCBC) which issued at the same spread as earlier deals despite a market widening.
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Cigar and pipe tobacco manufacturer Scandinavian Tobacco has set the price range for its all-secondary IPO at a “very considerable discount” to comparables, according to a banker on the deal.
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Two covered bond issuers from Sweden and Germany launched euro benchmarks on Tuesday. Both transactions were healthily oversubscribed, but with a wider starting spread, Swedish Covered Bond Corporation (SCBC) was able to issue a much larger volume, and tighten pricing during the bookbuild.
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Kommuninvest has selected three banks to arrange a roadshow to introduce its green bond framework, with a view to issuing a debut trade in the format this quarter.
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Private placements have taken up the bulk of Municipality Finance's funding so far in 2016, but the Finnish agency plans to make its debut public issue in euros this quarter.
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Aurora Shipping has signed a €200m credit facility with two lenders to finance four new-build vessels.
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Central Bank of Savings Banks Finland (CBSBF) pounced on the first sign of parting clouds in the global markets on Tuesday, dashing into the FIG market with a short dated floater.
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Sweden’s largest oil refiner, Corral Petroleum Holdings, is in talks with lenders to renew a $1.8bn revolving credit facility — but first, it needs to refinance its 2017 dollar and euro payment-in-kind notes.
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Daimler Canada Finance, a subsidiary of Daimler, made a rare outing in Norwegian kroner on Wednesday, printing a five year bond.
