Sweden
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The first scorecard of 2020 looks at the progress Nordic agencies have made in their funding programmes at the start of March. -
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Nordic banks Länsförsäkringar Bank (LF Bank) and Landsbankinn were able to offer “attractive value” in the preferred senior market this week, amid a general hunt for yield among credit investors.
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The euro market had no trouble digesting a pair of similar trades from Landesbank Baden-Württemberg (LBBW) and Svenska Handelsbanken this week, with both banks printing non-preferred senior bonds at 58bp and paying a small new issue premium to investors.
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SEB found calm conditions in the euro market this week as it paid a small new issue premium to launch a bail-inable senior bond on the back of its recent results announcement.
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Swedish PE firm EQT Partners has mandated JP Morgan to advise as it considers divesting its credit business. The strategic shift at EQT is happening as the private credit sector is getting increasingly crowded.
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Swedish issuer Kommuninvest is preparing to launch its first deal of 2020 — a five year Swedish krona note.
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Sweden published a study on Tuesday of the advantages and disadvantages of joining the EU’s Banking Union, highlighting the risk of becoming politically marginalised if it remains outside of the arrangements.
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Swedish Export Credit Corporation has grabbed $500m of four year paper in what will almost certainly be the last SSA syndication of 2019.
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Swedish Export Credit Corporation appointed banks on Wednesday for the first syndicated public sector dollar bond since mid-November.
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A number of untested European companies have made their entrance to the international high yield bond market in the past two weeks as central banks fuel conditions that pamper repeat and new issuers alike, while driving investors into ever riskier assets in a hunt for yield. Karoliina Liimatainen reports.
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Swedish heating and ventilation service provider Assemblin is braving the euro-denominated high yield market for the first time with €250m bond issue, used for refinancing and dividends. Exceptionally favourable conditions lured Triton-backed Assemblin to try its hand with international investors.
