SEB
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EnBW, the German electrical utility, and the financing arm of a Dutch truck company, DAF Paccar Financial, hit screens with highly rated euro trades on Monday. Central bank bond buying higher than forecast, pushed investors to oversubscribe the deals even though the spreads on offer were thin. -
Hennes & Mauritz, the Swedish clothing retailer, earned blowout demand for its sustainability-linked debut bond, but bankers off the trade said on Thursday that the exuberance was indicative of just how far capital markets have strayed from reality.
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H&M, the Swedish clothing retail company, has received blowout demand for its debut bond, as the “perfect storm” of ESG criteria and European Central Bank rule changes to allow it to buy sustainability-linked bonds saw the order book bulge to almost 11 times subscribed at guidance.
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Hennes & Mauritz, the Swedish clothing retailer, has chosen to issue its first ever bond in the novel sustainability-linked format.
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Deutsche Bahn rolled into the Swedish krona market this week to sell its biggest non-euro deal since 2012.
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Norway comfortably set a new order book record as it came to the market for just its fifth ever syndicated transaction on Wednesday.
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Norway began taking indications of interest on Tuesday for its fifth ever syndicated transaction as it continues its path towards becoming a regular issuer of public benchmark bonds.
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Banque Internationale à Luxembourg (BIL) ventured into the Swedish and Norwegian markets for the first time this week. With many of Europe's big banks absent from the MTN market this year, dealers are instead chasing more unusual deals from rarer names.
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The Europe Investment Bank extended the euro short term rate (€STR) floating rate note curve on Wednesday with 2021’s first deal in the format.
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The decline in international and debut Schuldschein issuance last year had a disproportionate impact on non-German bank arrangers. But this year’s bright start has given them a new lease of life.
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France set a new order book record with its new 50 year syndicated bond on Tuesday. Two other public sector borrowers joined the sovereign at the long of the euro curve.
