Sweden
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The Swedish city of Gothenburg returned to the bond market for its second public deal of the year this week. Swedish krona bonds have proven popular in recent weeks, as both domestic and European issuers have placed deals in the currency.
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Ulf Erlandsson, the well known green bond investor, and Knut Kjaer, founding CEO of the $1tr Norwegian oil fund, are exploring starting a new investment strategy called Diem Green Credit. -
Covered bond deals issued on Tuesday by the Swedish Covered Bond Corp (SCBC) and UniCredit Bank Austria were priced tightly but the market proved softer than recent sessions and price sensitivity limited the Swedish bank’s size ambitions.
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Swedish agency Kommuninvest has mandated three banks to run its forthcoming Swedish krona green bond. The issue will be its seventh green bond, and its fifth in Swedish kronor.
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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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BPCE and Swedbank attracted good demand for their sizeable 12 and six year covered bonds on Monday. Although the bonds were priced tightly, initial order book momentum was slow. The Swedish issuer did particularly well in the context of money laundering charges.
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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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