Svenska Handelsbanken
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Market participants believe the FIG primary market has seen its last deal of the year, with banks now positioning themselves for the busy January supply window and next week’s expected US rate hike. -
Activity in the covered bond market had been expected to slow down but instead it has been surprisingly busy this week, with as many as three euro benchmarks surfacing over the first three days.
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Commerzbank and Svenska Handelsbanken both launched senior deals on Monday, as the FIG market’s positive sentiment continued unhindered by what for many was the disappointing outcome of last week’s European Central Bank meeting.
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A trio of issuers from Finland and Sweden raised €3.5bn of funding in the covered bond market this week with strong receptions and limited spread concessions.
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Finnish telecommunications company DNA has refinanced loan facilities with a €250m credit facility, signed today.
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A global asset sell-off rattled markets this week and stopped an early start to post-summer FIG supply in its tracks, but after a recovery in bond prices bankers say the FIG floodgates are about to open.
