Nordics
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Finnish national airline Finnair has launched a rights issue in response to the coronavirus pandemic — the first in an expected wave of large European rescue recapitalisations. -
Norwegian video conferencing company Pexip has been hailed by equity capital markets bankers as an ideal IPO for the times amid a surge in remote working due to the Covid-19 global pandemic.
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Swedbank was paying less than fair value for a new euro senior deal on Friday, according to market participants, with the bank raising funding a day after publishing its first quarter results.
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A slide in euro and dollar MTN volumes has given Scandinavian banks the chance to propel themselves up the MTN leader board.
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SEB is creating a new sustainable finance unit to broaden its offering across the whole bank, and is building a team including country heads — the first of which is Lars Eibeholm, who will join the bank from the Nordic Investment Bank in the summer.
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The oil price slump on Monday spelt trouble for issuers in the already underperforming Norwegian krone bond market. Amid this turbulence, state-owned Norwegian airport operator Avinor flew in on Wednesday to print a Nkr2bn ($187.8m) dual floating and fixed tranche deal.
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Bluestep Bank has issued its first covered bond and the first Swedish transaction secured on mortgages that are not prime. The deal offered a juicy pick-up to prime benchmarks, but still provided a competitive and diversified source of funding.
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Svenska Handelsbanken and Swedbank looked to be as transparent as possible when laying out their assumptions for loan losses this week, as part of an effort to reassure the market about their resilience in the face of the coronavirus crisis.
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The prices of Western Canada Select and West Texas Intermediate dropped below zero during trading on Monday, spelling trouble for issuers in the already underperforming Norwegian krone and Canadian dollar.
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A measured reopening of the primary bond markets in the last month has left banks in a good place to launch new deals after first quarter results, according to FIG DCM officials.
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Swedish biotech company Getinge raised Skr1bn ($100m) of commercial paper off a new Covid-19 Financing Framework on Friday to it help meet increased demand for ventilators as a result of the coronavirus pandemic.
