Sweden

The visible European high yield pipeline was empty on Monday but for Perstorp, the Swedish specialty chemical company, which is running a seven day roadshow for its dual currency all debt refinancing deal.

Shares in Ahlsell, the Swedish wholesaler of plumbing and electrical installation products, have traded strongly since its Skr6bn ($671m) Stockholm IPO, ending Thursday 13% above their IPO price.

Moody’s has assigned a provisional Aaa rating to Stadshypotek’s Danish covered bond programme. The issuer has three other programmes backed by Finnish, Swedish and Norwegian collateral. All four programmes are established under Swedish law.

Tele2, the Swedish telecommunications operator, has announced the terms for its Skr3bn ($356m) rights issue.

Ahlsell, the Swedish plumbing and electrical products distributor, has signed a post-IPO loan with Danske Bank, DNB, Nordea and SEB.

The IPO of Ahlsell, the Nordic distributor of plumbing and electrical products, got covered at its maximum size within 24 hours of the launch of its bookbuild on Tuesday afternoon.

Despite an IPO market strewn with casualties, three of the largest European IPOs of the year are progressing through bookbuild.

Nets, the Nordic payment processing group whose shares have fallen 13% since their IPO three weeks ago, has reassured shareholders that it will not suffer materially from Nordea’s decision to change its mobile payments joint venture in Denmark and Norway.

A flurry of follow-on equity sales this week, mostly block trades, showed that investors still want stock, sometimes at tight discounts, even while three IPOs had to be abandoned.

The European Stability Mechanism is close to deciding on the format its first dollar benchmark will be printed in, while a deal due this Friday could open up to longer dated tenors what has already been an extremely strong dollar market in the three year part of the curve.

Export Development Canada will on Friday join a rampant dollar benchmark market and could open end up giving issuers more options after choosing a more daring maturity than those executed in the last few weeks.

Norway’s top spot in Nordic high yield annual primary issuance has historically been invulnerable. But with most borrowers linked to the energy sector and oil prices struggling to recover, its reign may be about to change this year.