Swedbank

◆ Highest over-subscription rate of Monday's covered deals ◆ Fourth tranche from a Swedish issuer this year ◆ No grow format helped tighten spread

Capital deals and a tight Nordic senior print point to what lies ahead for issuers

◆ Swedish lender prices in line with Nordic banks' trading levels ◆ Among some of the tightest five year prints since early 2022 ◆ New funding provides 'timely opportunity to re-engage with investors,' says Swedbank's head of funding

◆ Stockholm bank reached its preferred size ◆ Issuer’s third covered in three years ◆ Norwegian issuers have dominated Nordic covereds this year

A series of foreign bank issuers move in force to raise dollars, pushing weekly issuance tally close to March 2025

Short senior FRNs emerge as Nordic banks go local

◆ Issuer finds window between political volatility and supply onslaught ◆ Deal sets record low spread for callable sterling senior bail-in debt ◆ Investors remain on board despite tight price

◆ Issuer prints new green bond as French government teeters on collapse ◆ Deal comes tighter than shorter SNP green bond from March ◆ Latest trade in a recent Nordic senior series

Issuers' euros deals experience different attrition rates

◆ Issuer plans regular euro presence ◆ Deal comes flat to Swedish krona ◆ Five years appeals to the deepest pocket of investors

French deal lands close to its euro curve

◆ Similar trades clash on the same day ◆ New Zealand bank finds it more challenging to attract orders despite paying higher spread and new issue premium ◆ Swedbank lands deal with similar concession than recent French senior paper