Nordics
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Netcompany, the Danish IT service firm, increased the size of a block trade on Wednesday night and then saw the stock trade well in the aftermarket. -
DNB Boligkreditt took the opportunity on Wednesday to pre-fund as the start of next year is expected to be volatile. The DNB Bank subsiduary issued one of the largest five year covered bonds of 2018. Despite its large size, the deal was priced with a tight new issue concession.
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Adform, the Danish advertising technology company, will brave difficult markets to list on Nasdaq Copenhagen this November.
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A quartet of public sector borrowers brought small dollar deals this week that were fine but unspectacular, which SSA bankers said was down to a confluence of factors. There are hopes that with the market likely quiet next week for the US mid-term elections and Federal Open Market Committee meeting, conditions could return to their best for the albeit limited funding windows left in 2018.
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Swedish Export Credit Corporation was set to price a $1bn no-grow three year global benchmark as GlobalCapital went to press on Wednesday, as the last bits of dollar supply came before an expected shutdown next week for the US mid-term elections.
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Österreichische Kontrollbank and Erste Abwicklungsanstalt priced well received dollar deals on Tuesday. The pipeline in the currency is building with Bank Nederlanse Gementeen and Swedish Export Credit Corporation having lined up three year trades.
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KfW received a final book of over €12bn for a five year euro benchmark on Tuesday, while the City of Hamburg closed out its funding for the year with its longest outstanding bond. Finnvera will add to the euro SSA supply this week, after mandating banks for a short 10 year that is likely to be its final syndication of the year.
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OP Financial Group has laid out details of how it will use bond proceeds for green projects and businesses. FIG deals with a sustainable flavour have generally been well received this month, but not all of them have succeeded.
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Sweden's borrowing needs will rise in 2020 for the first time in five years due to an expected government budget deficit, the country’s debt office said on Thursday. To fund its increased financing needs, the sovereign will issue more local currency government bonds and money market instruments.
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Denmark’s TDC will use the proceeds of its Get AS sale to slash its debts, with the telecoms company planning to repay $2.3bn-equivalent of loans by the end of this year.
