Sweden

◆ Pharma firm returns to euros after two years away ◆ Some concession needed for slim covered deal ◆ Koninklijke Philips adds to biotech flow

◆ Swedish bank funds across the capital stack ◆ Latest euro covered bond launched to capture strong demand ◆ One of the tightest deals in three years

◆ Third public euro deal for Volvo this year ◆ Low single digit concession spotted ◆ Busier corporate pipeline expected this week

◆ Capital trade attracts investors for juicy return in tight market ◆ Slightly longer 11NC6 structure chosen for triple digit spread and 4%-plus yield ◆ Deal cleared at low single digit concession

◆ Euros over dollars for Sweden's only international deal of 2026 ◆ Pricing inside KfW, good pick-up over ESTR ◆ Greece brings €3bn 10 year tap

Tobias Landström, Kommuninvest’s head of debt management discusses recent euro bond transaction

◆ 'Real money' order book supports €1bn size ◆ 'Not much' delta between Nordic names, lead says ◆ Up to 5bp of concession

◆ Second public euro deal for Volvo this year ◆ Demand stays firm through pricing ◆ Small new issue premium spotted

◆ Swedish bank tightened spread by 28bp ◆ LF Bank opted for the €500m no-grow format ◆ Bonds offered 2bp of new issue premium, an expert said

◆ Sentiment improves after ceasefire extended ◆ Handelsbanken nears record tights ◆ Jyske Bank attracts €3.3bn of orders

◆ Sole IG corporate bond syndication of the day ◆ Less concession required than recent deals ◆ Central bank calendar starts to squeeze supply

◆ Last krona syndication conducted in 2021 ◆ Issuer presses ahead in pre-selected window despite war ◆ Foreign currency bond left to do in 2026