Denmark

A trio of SSAs made the most of low yields in Danish kroner and Swedish kronor to print paper with coupons hovering around zero this week.

Saxo Bank has announced plans to sell its first tier two bond, outlining its expectations for pricing before opening the order books.

Commerzbank, Jyske Bank and UBI Banca all issued €500m senior non-preferred bonds with five year maturities on Thursday. But Jyske opted for a more flexible and efficient note, callable four years after its issuance date.

This week's scorecard looks at the progress Nordic agencies have made in their 2019 funding programmes.

GN Store Nord, the Danish maker of hearing aids and audio devices, and Orpea, the French care homes operator, both achieved stellar terms on their new convertible bonds (CBs) on Tuesday, highlighting how the scarcity of new paper in the European market has pushed price dynamics in issuers’ favour.

Asset manager Pemberton has opened an office in Denmark to expand its European business.

Boutique investment bank Alantra has made new hires across its offices in Europe, Asia and the US.

This week's scorecard looks at the progress Nordic agencies have made in their 2019 funding programmes.

Nykredit has published a green bond framework and intends to issue its first green covered bonds, in floating rate Danish kroner and Swedish kronor, in May. The benchmark deals are expected to qualify for the best capital and liquidity treatment.

Jyske Bank said it was "proud" to have hit its targets with a new additional tier one in the Swedish krona market last week, but a slow bookbuilding process showed how recent money laundering scandals are affecting Nordic financial institutions in the capital markets.

The unique assets and business model of Danish Ship Finance meant the price discovery process was much more challenging for its first euro covered bond than is typical. However, with a conservative starting spread the issuer reeled investors in for its inaugural euro benchmark on Thursday.

Danmarks Skibskredit has mandated leads for a 3.5 year single A rated Danish covered bond secured on shipping loans.