Nordics

A Dkr6.4bn (€856m) block of shares in Danish renewable energy firm Ørsted reopened the EMEA ECM market on Tuesday evening and attracted huge investor demand for the stock — including from ESG investors.

A strong reception for a five year euro benchmark by KfW on Tuesday was enough to lure in a hesitant flock of public sector borrowers to the euro market as the pipeline stacks up for Wednesday’s business.

KommuneKredit has recruited a senior treasury manager to focus on the Danish agency’s funding and derivatives business.

KfW broke new ground in the sterling bond market on Monday by bringing its largest ever benchmark in the currency. Kommunalbanken is looking to latch on to the red hot market too after picking banks to lead a new December 2024 trade.

Iceland’s banks are expected to launch their first additional tier one (AT1) transactions in 2020, as they push on with optimising their capital structures.

Sweden published a study on Tuesday of the advantages and disadvantages of joining the EU’s Banking Union, highlighting the risk of becoming politically marginalised if it remains outside of the arrangements.

Denmark’s debt officials have a highly original plan to issue green bonds in which the green element can be stripped off and traded separately. It’s going to put many a green nose out of joint. That’s no bad thing: the market needs to re-examine its claims to efficacy and virtue.

Denmark’s government debt management office has formally proposed issuing green bonds in which the green element can be stripped off and traded separately — something that would be a world first, and would ask difficult questions of the green bond market. The DMO said investors had welcomed the idea.

Swedish Export Credit Corporation has grabbed $500m of four year paper in what will almost certainly be the last SSA syndication of 2019.

DNB Bank made the most of a favourable backdrop in the financial institutions bond market this week, selling a short-dated senior bond in sterling after recent prints in euros and dollars.

Swedish Export Credit Corporation appointed banks on Wednesday for the first syndicated public sector dollar bond since mid-November.

The Kingdom of Norway has sold a chunk of its stake in Entra, the Norwegian real estate development company, via an accelerated bookbuild that attracted more than 200 orders, according to a source close to the transaction.