Sweden
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Public sector borrowers looking for dollar funding are likely to have to go even shorter than they have been used to after this week’s Federal Open Market Committee meeting, said SSA bankers. -
Arion Banki, the first Icelandic bank to list shares since the financial crisis, is set to price the sale at the top of its revised range.
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Kommuninvest on Tuesday took advantage of a quiet dollar market to sell its largest ever deal, despite only offering a concession of 2bp, according to the lead managers.
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Sweden’s Lundin Petroleum has slashed 90bp off the margin of its $5bn reserves-based lending facility, as borrowers continue to heap pressure on lenders over pricing.
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Kommuninvest is out with a dollar trade in what bankers expect to be a fairly quiet week bisected by a likely target rate hike by the Federal Open Market Committee.
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Bank of America Merrill Lynch has hired a banker from SEB to lead its equity capital markets business in the Nordic region.
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The highly anticipated IPO of iZettle, the Swedish payments company, has been called off, as PayPal has struck a deal to buy the company.
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Big moves in US Treasury yields, swap spreads and the euro/dollar and euro/sterling basis swaps put paid to some dollar issuance this week as some borrowers held back and others tapped different currencies. But a pair of Swedish names did get deals done, and rates started to move back into more favourable areas, suggesting volumes could pick up again next week.
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Landshypotek Bank was able to close the price gap to its larger Swedish peers on Wednesday when it issued its first green covered bond.
