Nordics
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The Swedish city of Gothenburg returned to the bond market for its second public deal of the year this week. Swedish krona bonds have proven popular in recent weeks, as both domestic and European issuers have placed deals in the currency.
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Iceland plans to defrost its euro curve with a new syndicated issue, its first since December 2017. -
Finnish local government lender Municipality Finance has appointed its first chief economist. The creation of the role responds to new guidance from the European Central Bank for MuniFin to have a better outlook on the market.
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Ulf Erlandsson, the well known green bond investor, and Knut Kjaer, founding CEO of the $1tr Norwegian oil fund, are exploring starting a new investment strategy called Diem Green Credit.
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The €350m listing in Amsterdam of Marel, the Icelandic meat processing machinery maker, is covered on the second day of bookbuilding, having gained early momentum partly by attracting two cornerstone orders.
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Marel, the Icelandic meat processing machinery company, has secured cornerstone orders from BlackRock and Credit Suisse Asset Management for its €350m IPO on Euronext Amsterdam.
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Covered bond deals issued on Tuesday by the Swedish Covered Bond Corp (SCBC) and UniCredit Bank Austria were priced tightly but the market proved softer than recent sessions and price sensitivity limited the Swedish bank’s size ambitions.
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Swedish agency Kommuninvest has mandated three banks to run its forthcoming Swedish krona green bond. The issue will be its seventh green bond, and its fifth in Swedish kronor.
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This week's scorecard looks at the progress Nordic agencies have made in their 2019 funding programmes.
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The recent redemption of a Norwegian government bond has led to an increase in Nordic currency issuance this week, according to one MTN banker. The European Investment Bank and KfW tapped these released funds to raise a combined Nkr1.5bn ($171.2m).
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Marel, the Icelandic meat processing machinery maker, has announced its intention to seek an additional listing on Euronext Amsterdam before the summer, as it aims to tap into growing global demand for meat products.
