Nordics

A rates and structured sales banker at NordLB has resigned and will taking a job in the treasury department of Ålandsbanken, a bank headquartered in the Åland Islands, an autonomous region in Finland.

Oriflame, a Swedish cosmetics company, attracted emerging markets accounts to its buyout bonds on Wednesday selling the dual tranche deal inside price guidance.

Borr Drilling Ltd, the Norwegian oil and gas drilling services company, has completed its secondary listing on the New York Stock Exchange. Raising $46.5m of fresh capital and diversifying its shareholder register following a $645m debt refinancing in June.

One of the smallest supranational issuers has returned to the public markets for the first time since 2017 to make its Norwegian krone debut.

Investors have looked towards structured and long dated notes in their hunt for yield as the summer break creeps closer.

KommuneKredit returned to triple-A status with Standard & Poor’s on Wednesday, after it was downgraded a notch last summer following an overhaul of the rating agency's credit scoring methods for non-US public sector agencies.

The Swedish cosmetics company Oriflame is attempting to charm high yield investors with a €775m bond — but left lead Goldman Sachs is also pitching the issue to emerging market-focused accounts, highlighting the company's extensive business in Asia and Turkey. The founding family of the firm will use the bond to refinance bridge facilities which funded their buyout of the company earlier this year.

Loxam, the French supplier of industrial rental equipment, printed €1.15bn senior secured notes and €250m of subordinated notes this week, risking a future rating downgrade as it loads up more debt to finance its biggest ever acquisition.

Kommunalbanken is planning to make a return to the public green bond market for the first time since 2016 later this year.

The Swedish government has instructed the country’s national debt office to develop a green framework before issuance in the format by next year as part of its sustainable development strategy.

Iceland’s Landsvirkjun has signed a $150m-equivalent revolver, with the state owned energy company the latest borrower to refinance bank debt with a sustainability-linked facility.

Swedish agency Kommuninvest has said that it will issue more green bonds than previously expected, alongside a rise in its funding needs for 2019.