Swedish Export Credit Corporation

Swedish Export Credit Corporation sold a short-dated floating rate note on Wednesday, enticing investors with a small spread over Euribor.

This week's scorecard features Scandinavian agencies. Most of these borrowers are at least halfway through their funding programmes as issuance begins to slow for the summer.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

This week's scorecard features Scandinavian agencies. Most of the issuers have completed half of their funding requirement.

Longer than normal floating rate notes and currency plays could provide a large part of the private placement landscape over the coming months, funding officials and dealers said this week, in the wake of the European Central Bank’s decision to lower interest rates.

The European Investment Bank hired a trio of banks to run a three year global as Swedish Export Credit Corporation priced a deal that was more than twice subscribed on Tuesday, at a level that was through its curve according to leads.

Swedish Export Credit Corporation (SEK) mandated banks on Monday for a new dollar benchmark, which could precede a spree of deals in the currency as the basis swap into euros becomes more attractive for European agencies.

This week's scorecard features Scandinavian supranationals and agencies, with Nordic Investment Bank completing over half of its funding for the year and Kommunalbanken edging towards the halfway mark.

Kommuninvest mandated for its first dollar benchmark since October 2013 on Monday, a three year deal. Several other Scandinavian issuers are looking at dollar deals according to syndicate bankers, including the Nordic Investment Bank and Swedish Export Credit Corporation (SEK).

Syndicate bankers are preparing for a busy week in dollars following the Presidents’ Day holiday in the US on Monday. KfW is expected to mandate for a three year deal on Tuesday and several other agencies are set to follow.

Sterling’s strong start to the year showed no sign of letting up on Tuesday as the European Investment Bank and Swedish Export Credit Corporation raised £750m between them. The strong flow could be a fixture of the year, with some issuers that returned to the currency in January already mulling more deals.