Sweden
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Sunstone Capital, the Danish venture capital firm, sold its final stake in Swedish e-commerce firm Boozt on Wednesday, its third sale of shares since the firm’s IPO in May 2017. -
Sweden’s Modern Times Group (MTG) and its subsidiary Nordic Entertainment Group have agreed a five year revolving credit facility in the run up to the subordinate company being spun off.
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Sweden has become the latest European country to announce a rise in the level of the countercyclical buffer rate for its banks, citing a recent surge in risk taking.
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A pair of European agencies have increased their funding target ranges for 2018 as they prepare for the second half of the year.
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Stadshypotek issued a €1bn seven year on Wednesday marginally wider than where DNB Boligkreditt recently issued its much larger green inaugural deal in the same tenor. It followed a €500m five year from Sparebank Vest Boligkreditt.
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Sweden’s SSAB has ramped up the size of its euro denominated revolving credit facility to €600m, as the high strength steelmaker becomes the latest beneficiary of the liquidity flooding the loan markets.
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It is a mark of how far the market has come from a barren week at the end of May that not just one, but three deals, totalling €2.75bn, were priced on Friday. The European Central Bank meeting and the expectation of a deal from German pharmaceuticals company Bayer played their part in the issuers’ decisions on timing and the order books justified those choices.
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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.
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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.
