Denmark

Funding to be provided by Danish sovereign and agency will cease issuing bonds immediately, ‘an absolute shock’

Issuer plans regular voyages to euro covered market

◆ ‘Exceptionally strong’ deal in tough market ◆ Rarity adds to appeal ◆ Danish krone benchmark could come next

Leads to use comparables ranging from South Korea to Denmark when pricing upcoming deal

◆ Danish bank finds demand with Friday print ◆ Shorter tenor appeals to investors ◆ Deal lands close to fair value

Danish agency prints in euros, will look for dollar and green windows

◆ Danish lender raises €2.25bn of bail-in debt in one go ◆ Offers visible premium to lure investors for its acquisition funding of Spar Nord Bank ◆ Issuance strategy positively deviates from the past

New 10 year with green twin planned

Bund-swap moves will put tight Nordic spreads under pressure next year

◆ Appetite for credit attracts trio to senior market despite weaker backdrop ◆ But face-to-face execution between two similar deals underlines limits for non-major global bank issuers◆ UniCredit diversifies funding with rare floater

Investment grade companies issue €20bn of euro bonds this month

Fully underwritten deal will be partly used to buy Deutsche Bahn’s logistics division