Nordics

Svenska Handelsbanken was in the market on Tuesday, setting final terms for €750m of tier two capital. It was the first bank to issue subordinated notes in euros since June.

Rating: Aaa/AA+

Sunstone Capital, the Danish venture capital firm, sold its final stake in Swedish e-commerce firm Boozt on Wednesday, its third sale of shares since the firm’s IPO in May 2017.

KommuneKredit took a careful approach to its first benchmark deal since losing its triple-A rating with S&P. It found a good reception after starting with a wider initial pricing level.

KommuneKredit hit the screens on Tuesday for a new five year euro benchmark, hoping to emulate the success of the European Stability Mechanism’s deal in the same currency and maturity in July.

Eika Boligkreditt was more than twice subscribed for its no-grow deal on Tuesday, offering German investors a decent pick-up over both Bunds and Aareal Bank, which also came to the market.

Eika Boligkreditt and Aareal Bank are expected to reopen the covered bond market on Tuesday, after announcing post-summer holiday mandates on Monday. Both are looking to complete seven year deals.

Sweden’s Modern Times Group (MTG) and its subsidiary Nordic Entertainment Group have agreed a five year revolving credit facility in the run up to the subordinate company being spun off.

Ålandsbanken, a small bank headquartered in the Åland Islands, an autonomous region in Finland, is seeking to launch its first public sale of a senior bond as part of a drive towards meeting its minimum requirement for own funds and eligible liabilities (MREL).

A Credit Suisse DCM managing director has quit the bank to join Deloitte.

Kommunalbanken's sterling tap was the sole deal in the public sector market on Tuesday, following a similar transaction by Bank Nederlandse Gemeenten on Monday.

Bank Nederlandse Gemeenten kept the sterling tap running as the sole deal in the primary SSA market on Monday, with a Norwegian agency lining up to follow it on Tuesday.