Nordics
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Finnish sporting goods company Amer Sports issued its second Schuldschein loan for $55m to meet demand from investors left out of its first deal. -
Nordea Bank has appointed a new chief executive and chief operating officer, with Christian Clausen set to step down in November.
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Swedbank kept euro denominated FIG supply ticking over with a five year floater on Tuesday, but bankers said the deal’s small oversubscription would do little to convince others to pull the trigger this week.
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KommuneKredit could branch out into more niche currencies after receiving an enthusiastic response for its inaugural Canadian dollar benchmark.
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KommuneKredit priced its first Canadian dollar benchmark in line with guidance this afternoon after increasing the deal in response to strong central bank demand.
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A European issuer is about to bring the first three year Maple bond in two years, after several moving parts moved into place to make the deal possible.
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A quiet patch for block trades was broken on Tuesday evening when UBS launched an €865m accelerated bookbuild in Kone Corp, the Finnish maker of lifts — an exceptionally rare deal in the stock, which has a €20bn market capitalisation.
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Expanding Swedish pharmaceutical company Recipharm has signed a Skr1.5bn ($176m) term loan with three relationship banks.
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Timo Ruotsalainen, head of treasury at Aktia Bank in Finland, speaks to The Cover about the European Central Bank’s covered bond purchase programme, LCR funding and shrinking investor pools.
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After the disastrous reception of Royal Bank of Canada’s seven year covered bond on Wednesday, SCBC followed with another seven year on Thursday. The infrequent issuer raised half the amount than SEB and paid 5bp more, but did the right thing by not compounding the problem left by RBC.
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SCBC mandated leads for a seven year covered bond on Wednesday, the second in that tenor from Sweden and the third in that tenor overall this week. The transaction comes as RBC struggled to build strong demand for its seven year after Bund yields soared. Yorkshire Building Society has responded to concerns around volatility and mandated leads for a shorter maturity.
