Svenska Handelsbanken
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◆ Deterioration in market sentiment but Handelsbanken prices close to fair value, and even inside by some estimates ◆ CRE exposures under microscope ◆ Strong earnings, comfortable capitalisation assure investors
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◆ Funding conditions become even more favourable following the FOMC's decision to stay pat ◆ Deal clears with slim concession of up to 5bp ◆ Good deal results and sentiment could lure Friday issuance
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◆ Second Swedish sub in a row to be priced with a spread below 200bp ◆ Market is strong but investors are price sensitive ◆ SEB pays higher NIP than Handelsbanken did
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◆ Sub sale sealed with single digit concession ◆ Strong demand paves way for more tier two trades to follow ◆ Proceeds could fund tier two call next year
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'Amazing' book swells beyond expectations
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◆ Improved tone lures local lenders in size ◆ Yankee arb possible again ◆ European trio steps up Yankee printing on Thursday
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The wave of capital increases by real estate companies pressured to repay debt has only begun, says banker
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After posting strong earnings, the Swedish bank issued big size into an even bigger book
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Non-European deals stay defensive in the short end, but Stadshypotek shows there is demand at five years
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Rights issue volumes have surged in Europe this week as bankers expect more activity
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Bankers expect more acquisition-related capital increases once volatility subsides
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The Swedish construction equipment seller launched the deal close to its deadline
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Attractive funding on offer as Swedish lender prints A$1bn
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Name recognition and two year absence fuelled demand for the unrated corporate
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Issuers are squeezing every last drop out of the buoyant primary FIG market with Nordic borrower bringing a deal on a Friday but widening suggests bigger NIPs coming
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Senior bond flies, notching tightest spread and concession for weeks
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Investor demand falls in favour of frequent and larger borrowers as issuance windows lurch open and shut
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BNP Paribas, Deutsche Bank and Svenska Handelsbanken attracted combined orders of more than €10bn
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Swedish bank surpasses expectations as it attracts £2bn of orders
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Deutsche Pfandbriefbank eschews tier two refi in favour of extension
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Scarcity value helped to propel the strong name to a double digit saving versus euros
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European banks finding pockets of demand in niche currencies
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Swedish borrower looking to print up to four tranches of preferred debt
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Bankers feel the market is open to national champions from across Europe
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A rise in rates is helping high quality names push credit spreads even lower
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Three large borrowers latched on to a stronger backdrop to raise €4.5bn of funding
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Handelsbanken has hired a former NIB CFO to run its sustainable finance team
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Euros offering a cheaper alternative for Nordic borrowers
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A handful of borrowers have found their additional tier one (AT1) paper upgraded into investment grade territory by Moody’s this week, following adjustments in how the agency treats high trigger instruments.
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Kungsleden, a Swedish commercial property owner, has signed a Skr2.9bn (€285m) credit facility linked to sustainability targets, as lenders’ varying approaches to key performance indicators on these types of deals are once again thrust into the spotlight.
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Sweden became the latest European sovereign to access the ultra-long end of the curve this week as it launched its first 50 year bond, opening up the long end of the krona curve for other highly rated names.
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Yankee borrowers found swift execution and deep liquidity as they peppered the dollar market this week, with ABN Amro and Svenska Handelsbanken each printing debut non-preferred senior trades in the currency.
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Sinch, the Swedish cloud-based communications services company, has raised Skr9.4bn (€926m) to fund M&A opportunities following an overnight share sale anchored by major investors.
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Landshypotek Bank sold a trio of covered bonds in the MTN market this week, including its largest single tranche deal since April last year.
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Danske Bank set a careful foot into the Reg S dollar additional tier one market this week, in the wake of a difficult trading session for global equities.