SEB
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On Tuesday LafargeHolcim became the first issuer for nearly two weeks to launch a corporate bond in Europe. The €750m 12 year deal received strong demand, which may lead other issuers to bring forward their plans. -
Independent Vetcare, a veterinary group based in the UK, is back in the market with an add-on to the sterling loans that funded its leveraged buyout in April.
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SEB issued a tightly priced €1bn seven year covered bond on Tuesday, but the slim scale of oversubscription reflected investors’ resistance in the fatigued market.
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The blossoming market for socially responsible investments focussing on social problems, rather than environmental concerns, sprouted a new shoot this week. Nederlandse Waterschapsbank’s affordable housing bond could be the first of many of its type and may open the door for housing associations to sell social bonds.
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Nederlandse Waterschapsbank’s first ever affordable housing bond raised €2bn across two tranches on Wednesday. One banker on the deal said he was “certain other borrowers will issue more like this”.
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Nederlandse Waterschapsbank will come to market on Wednesday for its first ever affordable housing bond.
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Guarantor: All Danish municipalities and regions
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Shares in Medicover, the Swedish diagnostic services provider, closed 17% higher on their trading debut on Tuesday after the company finished its Skr2bn (€207m) IPO on Nasdaq Stockholm, having priced the deal at the mid-point of its range.
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A pair of agencies launched socially responsible investment deals in euros on Tuesday, while a third picked banks for a dollar trade.
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Nordic low cost airline Norwegian Air Shuttle will meet investors about a tap of its only euro bond on Monday. This time, it also plans a new €370m deal in Norwegian kroner.
