Swedbank

FIG borrowers were encouraged by the reopening of Europe's corporate bond primary market this week, suggesting euro senior supply could return in spite of the weak market backdrop.

Swedish telecommunications company Tele2 has retained all of the original lenders as it refinances a €800m revolving credit facility.

Finnish Stainless steel producer Outokumpu reduced the size of its revolving credit facility and pushed out maturities on other existing loan agreements as part of a wider deleveraging effort.

General Electric has terminated an agreement to sell its appliance business to Swedish household appliance producer Electrolux, toasting bankers' plans to provide bridge financing.

Swedbank printed the tightest fixed rate senior bond in several months this week, but FIG bankers are split on whether banks can be drawn away from covered bond funding next year as bail-in uncertainty continues to dog the asset class.

Swedbank

Swedbank bucked a trend of issuers turning to covered bonds for funding on Thursday when it launched a five year fixed rate senior deal.

Alandsbanken, the Finnish banking group, has issued its first Swedish krona bond for over a year, drawing huge demand from domestic Swedish investors.

Groupe BPCE launched its first tier two deal of the year on Friday, taking advantage of a buoyant market requiring slimmer new issue premiums.

Banks leapt on demand for Hong Kong dollar medium term notes this week, as better than expected US non-farm payrolls drove rates up in the dollar-pegged currency.

Shipping company Odfjell SE has agreed a $112m term loan facility to refinance existing loans on three of its vessels.

Swedbank and SR Boligkreditt defied tricky market conditions this week to respectively raise €1.25bn and €500m in five year covered bonds.