Nordics
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Kommunalbanken announced its funding plans for the second quarter this week. KBN has plans to issue another two benchmark transactions this year, with a focus on the three to ten year tenure. -
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A reverse enquiry was the catalyst behind KfW’s decision to print its first Swedish krona note of the year on Wednesday — one of the largest krona deals issued by the German agency.
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An attractive Scandinavian market led two European sub-sovereigns to print private notes this week.
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Jyske Bank said it was "proud" to have hit its targets with a new additional tier one in the Swedish krona market last week, but a slow bookbuilding process showed how recent money laundering scandals are affecting Nordic financial institutions in the capital markets.
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Kaupthing Bank has completed the first selldown of shares in Arion Banki, the Icelandic bank that was rescued during the financial crisis, since its re-IPO last year.
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Norway’s DNB Bank on Tuesday broke a record for the tightest pricing in preferred senior format so far this year, finding strong demand for a new transaction, despite market concerns about money laundering among Nordic financial institutions.
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Public sector borrowers were able to achieve zero or negative new issue premiums and close books early in the euro market on Tuesday as investors piled into haven assets amid a weaker outlook for global growth.
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A strong Swedish market led the City of Stockholm to place its first private trade of the year on Monday. The Skr2.5bn ($268.4m) note was its largest non-syndicated issue since 2012.
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Adevinta, the online classified advertising division of Norwegian media group Schibsted, has set the price range for its IPO on the Oslo Børs, which may value the company at up to Nkr55.8bn (€5.8bn) if the deal is priced at the top of the range.
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Oma Savings Bank proved popular on its return to the euro covered bond market on Wednesday, allowing it to hit the upper end of its size ambitions and only pay a slim premium to investors.
