Nordics
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Two of the largest pension insurers in Finland have offloaded €283m of stock in Kojamo, a housing rental company in the country, tapping into yield driven demand for residential property companies during the pandemic. -
Nordic Semiconductor, the Norwegian maker of semiconductors, has completed an Nkr1.1bn ($125m) growth capital raising to fund M&A opportunities and an acceleration of its growth strategy.
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French agency Caisse des Dépôts et Consignations (CDC) hit screens on Monday afternoon with its second ever sustainability bond, following its debut in the format last year.
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DNB Boligkreditt did not waste any time waiting to tap its covered bond first issued last week, raising a further Skr500m on Thursday in order to capitalise on the attractiveness of the Swedish krona compared with other currencies.
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A trio of European SSAs raised a combined $6bn with five year dollar benchmarks this week. Kommunalbanken, the European Stability Mechanism and Nordic Investment Bank all hit a “very deep pocket” of demand in the tenor.
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In a busy week for European sovereign sustainable issuance, Municipality Finance took the chance to sell its debut social bond — the first in the format from any Nordic SSA.
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The European Stability Mechanism hit dollar the market on Wednesday with a five year benchmark — its fourth ever in the currency. Two Nordic issuers are set to follow suit on Thursday.
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Sweden’s long gestating green bond debut came to fruition this week as the sovereign scooped Skr20bn ($2.3bn) at a discount to its conventional curve.
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Following a series of investor calls, Sweden has announced the tenor of its debut green bond, which is expected to be issued early next week through syndication.
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International Finance Corp sold the first Kauri bond in more than two months on Thursday, while in the Kangaroo market a pair of European agencies tapped a pocket of demand further down the curve.
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Municipality Finance will be holding a series of investor calls next week as it looks to issue its inaugural social bond following the publication of a framework earlier this year.
