Nordics

Ferd Invest sold a stake in Petroleum Geo-Services, the Norwegian company that provides surface imaging to oil and gas exploration companies, on Monday night after the stock rallied due to higher oil prices over the past 12 months.

Sweden has become the latest European country to announce a rise in the level of the countercyclical buffer rate for its banks, citing a recent surge in risk taking.

KommuneKredit’s borrowing costs and access to the capital markets are unlikely to be affected by S&P downgrading its long term credit rating, said SSA bankers.

Nykredit Realkredit more or less filled its annual target for issuance in the non-preferred senior format on Tuesday, raising €500m in its first deal since a recent update to bank insolvency law in Denmark.

Norwegian car parts manufacturer Kongsberg Automotive is refinancing loans in the high yield market with a deal that offers investors the biggest double-B coupon seen since April.

A pair of European agencies have increased their funding target ranges for 2018 as they prepare for the second half of the year.

Stadshypotek issued a €1bn seven year on Wednesday marginally wider than where DNB Boligkreditt recently issued its much larger green inaugural deal in the same tenor. It followed a €500m five year from Sparebank Vest Boligkreditt.

Investors have squeezed better terms out of Mehiläinen, the Finnish healthcare group seeking a €1bn loan to finance its acquisition by CVC.

Crédit Agricole and Münchener Hypothekenbank (MuHyp) found good demand for their covered bonds on Tuesday, but it was Crédit Agricole’s transaction that really stood out by virtue of its size and maturity, which until now had been viewed with trepidation.

Opera’s planned $115m Nasdaq IPO now has a cryptocurrency angle after Bitmain, a Chinese bitcoin miner, joined the deal as an anchor investor.

Voters rewarded a five year dollar print from Finnvera — the first in that tenor from a European SSA since March — with strong scores across the board.

Sparebanken Vest Boligkreditt has mandated joint leads for a five year euro benchmark covered bond that will likely launch on Tuesday.