Nordics

Danica Pension on Monday was first to test the FIG market since the US Federal Reserve's rates announcement last week when it opened books on its subordinated tier two notes.

Finnvera

Covered bond issuers failed to take heed of poor market conditions and, just like lemmings, followed one another with poorly performing deals this week.

Municipality Finance is set to hit the road to showcase an upcoming debut in the additional tier one (AT1) market — and at least one other European agency could follow suit.

Statkraft, the Norwegian state electricity company, made a successful venture into an uncertain corporate bond market with a defensive €500m no-grow bond on Monday.

Swedish group Akelius Residential Property on Wednesday sold €300m of unsecured notes with speculative grade ratings, entirely to investment grade investors.

A European agency outlined size expectations on Wednesday for an inaugural visit to the additional tier one (AT1) market, after mandating for the deal earlier in the day.

Finnvera took its first ever billion sized bite of a core currency bond on Tuesday, enticing investors with a juicy pick-up over its sovereign’s curve.

Four covered bonds have been issued so far this week, but only one deal from Sparebanken Vest Boligkreditt was comfortably oversubscribed. The choice of tenor, deal size and generous spread ensured a solid reception, despite tough market conditions — which Credit Mutuel Arkea will face on Wednesday when it is expected to opens books for another covered bond.

Statkraft, the Norwegian state electricity company, made a successfully defensive venture into an uncertain corporate bond market with a €500m no-grow bond on Monday.

The euro pipeline for SSAs is fit to burst amid strong conditions, with a trio of issuers hitting screens on Monday and at least one borrower set to come with a deal later in the week.

Two insurance companies are meeting investors this week for tier two trades as the sector continues to beef up its capital ahead of the implementation of Solvency II in January 2016.