SEB
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The Swedish National Debt Office (SNDO) promoted non-preferred debt as a way for Swedish banks to meet the minimum requirement for own funds and eligible liabilities (MREL) on Thursday, establishing a favourable method for calculating the requirement and a manageable timeline for its implementation. -
Investors piled into a €1bn dual tranche transaction from telecoms company Ericsson on Monday even after the issuer dragged pricing in by around 35bp, in an execution that bankers say highlights how tough it has become for syndicates to derive fair value.
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Skandinaviska Enskilda Banken broke a near ten year record in setting a very tight spread for its debut green bond, helped by a maturing green investor base and a recent flight to quality.
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The FIG market was gripped by a bout of volatility this week, causing new issue premiums to rise and order books to shrink. But primary markets will still be there to support the growing number of financial institutions exiting earnings blackouts.
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Sweden’s Molnlycke got in early this week with a €500m eight year trade, as bond bankers said that the euro market is ready to ramp up again in the coming days.
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Skandinaviska Enskilda Banken mandated banks for its first green senior bond on Wednesday, as a growing number of banks catch on to the merits of the format.
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The State of North Rhine-Westphalia announced on Monday that it will hold a roadshow for its third sustainability bond.
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Investor AB, a Swedish industrial holding company, has signed a new five year plus one plus one revolving credit facility for a capped size of Skr10bn ($1.13bn).
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BMW formed part of the auto sector’s traditional charge from pole position into the first corners of the corporate bond market on Wednesday, beginning the new year with a dual tranche trade that paid single digit concessions.
