Sweden
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Millicom International Cellular, the emerging markets-focused telecoms group, is planning to issue its first sustainable bond. It published a Sustainability Bond Framework on Tuesday and will issue with a high yield rating.
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Swedish krona levels look attractive compared to euros, say bankers, leading to a raft of large deals being printed at the short end. Swedbank and Deutsche Pfandbriefbank both benefited from these levels when they printed covered bonds this week.
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Svenska Handelsbanken was well received for a new senior unsecured transaction in the sterling market on Thursday, despite having pushed the spread towards a level that some investors might be able to pick up from a covered bond.
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This week's scorecard looks at the progress Nordic agencies have made in their 2019 funding programmes.
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A reverse enquiry was the catalyst behind KfW’s decision to print its first Swedish krona note of the year on Wednesday — one of the largest krona deals issued by the German agency.
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An attractive Scandinavian market led two European sub-sovereigns to print private notes this week.
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Jyske Bank said it was "proud" to have hit its targets with a new additional tier one in the Swedish krona market last week, but a slow bookbuilding process showed how recent money laundering scandals are affecting Nordic financial institutions in the capital markets.
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A strong Swedish market led the City of Stockholm to place its first private trade of the year on Monday. The Skr2.5bn ($268.4m) note was its largest non-syndicated issue since 2012.
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Guarantor: Swedish local government members
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Kommuninvest built out its Swedish krona green curve benchmark this week with its longest dated bond in the format. There is, however, an expectation that this Skr3.5bn ($382.3m) five year green bond could be the curve’s furthest extent.
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The Depository Trust & Clearing Corp has agreed a deal to provide post-trade infrastructure services to enable SEB, the Swedish banking group, to meet its obligations under the Securities Financing Transactions Regulation.