Nordics

Finnair, the unrated Finnish airline, increased the size of its hybrid capital issue today by €50m to €200m, as Nordic investors supported the credit in a turbulent week.

Swedish Covered Bond Corp (SCBC) and Bankinter issued €750m covered bonds this week, but after record issuance, their limp receptions may cause others to postpone funding plans.

Kommuninvest and KfW found good demand for short dated dollar benchmarks on Thursday despite difficult market conditions.

Finnair, the unrated Finnish airline, increased the size of its hybrid capital issue today by €50m to €200m, as Nordic investors supported the credit in a turbulent week.

World Bank on Wednesday sold the largest dollar benchmark from an SSA since July, as other issuers lined up deals in the currency.

The euro benchmark market is set to welcome a debut issuer this week, while a rare borrower in the currency was able to increase a syndication from its initial €500m target.

Just south of the city of Växjö in southern Sweden is a new residential neighbourhood called Solallén. It’s a cluster of 21 black and yellow townhouses that, aesthetically pleasing as they are with their high ceilings and bike parking and gardens, would be unremarkable were it not for the fact that they constitute the first net zero energy residential neighbourhood in Sweden.

The increasing attractiveness of euros over dollars has led one public sector borrower to mandate for its first ever benchmark in the currency — and more debut issuers could follow.

It is said that if all forestry management was conducted like Sweden’s SCA, there would be no climate change problem. It is said, specifically, by SCA’s vice president for environmental affairs, Patrik Isaksson. “Yes,” he says cheerfully. “Let me explain that provocative statement.”

Gothenburg sits on Sweden’s southwest coast, served by the Gotä älv river which sweeps into it from the north. By the time that river system gets to Gothenburg it has traversed 750 kilometres, through dams, canal locks, a hydropower station and a host of industrial and shipping uses. And it’s from this river, upstream of the city, that Gothenburg gets its drinking water.

Germany

A supranational has mandated for a dual tranche dollar benchmark, amid signs that issuers are willing to pay up to get size. But Sweden took a different route, pricing a $1bn deal arguably through its curve.