Sweden
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Budget airline Ryanair slipped into the market to print a €750m August 2023 bond on Wednesday, taking advantage of an almost clear run as many issuers are still on earnings reporting blackouts. Meanwhile, two other corporate credits are about to meet investors. -
BC Partners has sold 13.2% of Com Hem, the Swedish provider of cable television, broadband and telephone services, for Skr2.3bn ($275m), through an accelerated bookbuild launched on Monday night.
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Sweden’s Molnlycke got in early this week with a €500m eight year trade, as bond bankers said that the euro market is ready to ramp up again in the coming days.
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Shares in Diös Fastigheter, the Swedish property company, closed 4.5% higher on Thursday after it completed its Skr1.85bn ($209m) rights issue to partly finance the acquisition of a portfolio of mainly commercial and retail properties from Castellum in cities in northern Sweden.
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Investor AB, a Swedish industrial holding company, has signed a new five year plus one plus one revolving credit facility for a capped size of Skr10bn ($1.13bn).
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A $120.6m borrowing to support a recent acquisition by Indian company Tata AutoComp Systems has launched into general syndication.
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The socially responsible investment market for public sector bond issuers is shaping up for another busy year, with one agency planning a debut print in the next few months.
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As many as eight covered bonds were launched across three currencies this week, the vaguely discernible pattern suggesting better interest for the larger deals with intermediate maturities and particularly those from non-eurozone issuers where liquidity is most likely to be better.
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Public sector borrowers tore $10bn of funding from the dollar market on Tuesday, shaving several basis points from initial price thoughts in the process. Only one benchmark is on screens for Wednesday, but SSA bankers expect next week’s run-up to the inauguration of Donald Trump as US president on January 20 will be — in Trump terminology — “huge”.
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Tuesday’s dollar market is set to be packed to the rafters, with a quartet of issuers out with trades and most of the focus at the five year part of the curve.
