Nordics

Nykredit has published a green bond framework and intends to issue its first green covered bonds, in floating rate Danish kroner and Swedish kronor, in May. The benchmark deals are expected to qualify for the best capital and liquidity treatment.

Adevinta, the online classified advertising division of Schibsted, shone in the aftermarket on Wednesday after the company began trading on the Oslo Børs following its Nkr2.87bn (€298m) IPO.

The IPO of Adevinta, the online classified advertising division of Norwegian media group Schibsted, is oversubscribed throughout the revised price range on the penultimate day of the bookbuilding, according to two sources close to the deal.

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.

Rating: Aa1/AA+

Guarantor: Republic of Finland

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.

An attractive Scandinavian market led two European sub-sovereigns to print private notes this week.

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.

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.

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.

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.