Sweden

Covering four tranches, two currencies and fixed and floating rate payouts, what could be the largest high yield bond since April 2016 hit screens on Monday as Intrum Justitia embarked upon a week-long roadshow for a €3bn bond.

The Swedish financial supervisory authority (Finansinspektionen) has proposed tightening mortgage lending criteria in an effort to slow growth in household debt, a decision which analysts believe is likely to be positive for covered bonds.

Shares in Boozt, the Scandinavian online fashion retailer, closed 25% higher on Wednesday after they began trading on Nasdaq Stockholm after its heavily oversubscribed Skr1.6bn (€166m) IPO. It rose another 3% on Thursday.

The IPO of Boozt, the Nordic online fashion retailer, is due to be priced at Skr62, near the top of the Skr54 to Skr63 initial price range, giving it an initial market capitalisation of Skr3.44bn (€350m) when it begins trading on Wednesday, May 31.

Shares in Medicover, the Swedish diagnostic services provider, closed 17% higher on their trading debut on Tuesday after the company finished its Skr2bn (€207m) IPO on Nasdaq Stockholm, having priced the deal at the mid-point of its range.

The Skr1.4bn (€143m) IPO of Boozt, the Nordic online fashion retailer, was this week covered at its maximum size throughout its price range.

Shares in Munters, the Swedish climate control systems group backed by Nordic Capital, traded as much as 26% above their offer price on Friday after they began trading on Nasdaq Stockholm after its Skr4bn (€422m) IPO.

A swirl of allegations surrounding US president Donald Trump this week added a rally in US Treasuries to already tightening dollar swap spread, creating an uncertain environment for public sector issuers considering dollar deals next week.

Guarantor: Swedish local government members

Japanese investors are snapping up Russian rouble MTNs and Uridashi in their search for higher yields, with SSAs the beneficiaries.

CVC has launched the first ever block trade in Ahlsell, the Swedish wholesaler of plumbing and electrical installation products that floated in Stockholm in October 2016.

The European Investment Bank is set to take a novel approach to green bond issuance, after mandating for a dual tranche dollar deal — of which only one leg is a Climate Awareness Bond. Like Kommuninvest, which printed a four year dollar green bond on Tuesday, the supranational may have to contend with volatile dollar swap spreads.