Nordics
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Danish bankers believe that Danish mortgage banks are well capitalised and do not see the need to hold more capital, as was recently proposed by the Danish central bank. -
Sweden began a series of calls with investors on Wednesday as it prepares to issue its highly anticipated inaugural green bond through syndication later this month.
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Kommuninvest is launching a pilot programme of sustainability loans. If there is enough demand, these will be funded through the institution's first social bond.
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Danish banks say they could replace non-preferred senior debt with preferred senior bonds in the second half of 2020, after Denmark’s national supervisor relaxed minimum requirements for own funds and eligible liabilities (MREL).
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Shares in Cellink, the Swedish maker of 3D printing equipment for the life sciences industry, rose more than 4% on Thursday morning after the company completed a Skr946m ($109.2m) growth capital raising, amid strong investor appetite for exposure to the healthcare sector due to the global Covid-19 pandemic.
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Two agencies were out with dollar mandates on Monday and more public sector borrowers could follow with deals this week as a rise in US Treasury yields boosts demand for SSA dollar bonds.
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Kommunalbanken has raised its borrowing requirement for the year back to its initial target as a result of a strong performance in the Norwegian Krone over the summer.
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The Inter-American Development Bank (IADB) broke the silence in the SSA market with a Canadian dollar sustainable development bond. The deal shared the market with a dollar trade from Kommuninvest, with both issuers steering clear of the almost dormant euro market.
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Private equity firms EQT Partners and Vaaka Partners have offloaded €118.5m of stock in Musti Group, the Finland-based pet store, in an otherwise barren week for block trades in EMEA.
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Danish covered bond auction season is underway with Nykredit and Nordea announcing sales. August’s auctions also provide the last opportunity to buy certain 30-year callable bonds, of which one is the largest covered bond ever issued.
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Subordinated bond issuance could decline dramatically among Nordic banks following implementation the EU’s new bank recovery and resolution directive (BRRD 2), Fitch said this week.
