SEB

Medicover is on the hunt for at least €100m of funding in the Schuldschein market. The Swedish healthcare company joins a growing number of Nordic borrowers looking to tap the German loans market.

Volumes are growing across the spectrum in the Scandinavian MTN markets, as issuers and bankers return from their summer holidays. Meanwhile, bankers are expecting Scandinavian investors to move further out along the credit curve in response to negative yields as dovish Nordic central bank tones could lead to a bullish Scandinavian market.

One of the smallest supranational issuers has returned to the public markets for the first time since 2017 to make its Norwegian krone debut.

Air Baltic, an airline 80% owned by the Latvian government, printed its €200m five year non-call three debut bond on Tuesday from an order book of €300m.

Air Baltic, an airline owned by the Latvian government, has released initial price guidance for its €200m five year non-call three debut bond at 6.75%-7%.

The European Securities and Markets Authority (Esma) has had to row back on fines for four Nordic banks for issuing credit ratings, after an appeal board found that the banks had not broken the rules negligently.

A new name hit screens on Tuesday announcing a roadshow. Air Baltic, an airline owned by the Latvian government, will meet with investors to promote a euro deal.

With the quarter’s end approaching and the G20 meeting starting on Friday, the primary market saw a busy period across all asset classes on Monday, as issuers rushed to frontload supply while Skandinaviska Enskilda Banken (SEB), Nykredit Realkredit and Société Générale lined up for deals in euros.

A trio of SSAs made the most of low yields in Danish kroner and Swedish kronor to print paper with coupons hovering around zero this week.

Volkswagen has closed the books on the long-awaited spin-off of its truck division, Traton, at €27 a share, the bottom of the price range. It was a positive result for the company, according to sources speaking to GlobalCapital.

Skandinaviska Enskilda Banken did not have to pay a new issue premium amid favourable market conditions on Monday, after offering investors the chance to buy a new preferred senior bond.

Sweden’s Svenska Cellulosa Aktiebolaget (SCA) has signed credit lines totalling Skr6bn ($638m), though the bulk of facility for the timber, pulp and paper company will remain undrawn.