Denmark
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Nets, the largest digital payments processor in the Nordic region, will close the books for its Dkr10.4bn to Dkr16.8bn ($1.6bn-$2.5bn) IPO two working days early after receiving strong demand. -
Danish payment systems firm Nets has agreed €1.4bn of loans with a new bank group to refinance debt ahead of its initial public offering. The loans are denominated solely in euros which is an increasingly popular currency for lenders, said a banker on the deal.
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Nets, the largest digital payments processor in the Nordic region, has announced the price range for its Copenhagen IPO, which values the business at up to $4.8bn, almost double the price its private equity owners Advent and Bain paid for the company in 2014.
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US agricultural equipment manufacturer AGCO launched its first ever Schuldschein for €150m on Tuesday. Some of the proceeds will be used for the acquisition of Danish manufacturer Cimbria.
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Five banks raised more than $10bn in the senior unsecured dollar market this week, exploiting strong demand and at spreads that were in line with where covered bonds would have priced.
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Nets, one of the largest digital payment service providers in the Nordic region, announced its intention to float on Nasdaq Copenhagen, hoping to emulate the success of larger UK peer Worldpay which was listed last year in London.
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Chr. Hansen, the Danish bioscience company, has added two non-Nordic banks to its core syndicated loan in a €700m refinancing.
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The long end of the Kanga curve saw action this week, as Japanese investors hunted for yieldy paper.
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KommuneKredit printed an A$60m ($45.7) tap of its November 2026 Kangaroo bond on Wednesday, with bankers confident more reverse enquiry-driven taps are en route.
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A seemingly unstoppable flow of dollar issuance from public sector borrowers looks set to spill into next week, after a slightly undersubscribed deal early this week failed to dent sentiment for other trades.
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A pair of issuers brought comfortably oversubscribed dollar benchmarks on Wednesday, leading bankers to speculate that other issuers could be tempted to follow with trades in the currency next week.
