DNB Bank

DNB Bank did not require a premium to raise $2bn of short dated senior funding at the beginning of the week, as it swooped into the market ahead of the US Thanksgiving holiday.

DNB Markets has hired a banker from UniCredit to join its leveraged finance team in London.

Sweden’s Recipharm has agreed a debt-backed deal to buy the UK’s Consort Medical for an enterprise value of about £627m ($810m), as the pharmaceuticals sector remains a consistent area of M&A activity.

BBVA and DNB Bank were both looking to build towards their minimum requirements for own funds and eligible liabilities (MREL) in the euro market on Thursday, eschewing non-preferred senior issuance in favour of the cheaper preferred senior format.

Norway’s Ferde has launched a Nkr2bn (€194m) triple part floating rate green bond, with the toll operator cruising past its minimum amount target.

Carnival, the Anglo American cruise company, has launched a €600m 10 year trade, with the corporate bond pipeline filling fast.

Acquisition hungry Bravida has signed a Sk2.5bn (€197m) loan, in a deal that makes up a major part of the Nordic building facilities service provider’s long term capital structure.

The UK’s Endava has signed a new £200m-equivlanet multicurrency facility, with the software development company swapping a bilateral loan for syndicated lending.

Teekay Shuttle Tankers has mandated a $150m “green bond” to fund new oil tankers built to the firm’s “e-shuttle” standards. The deal raises questions about the logic of using green-branded debt instruments to fund fossil fuel extraction.

The City of Gothenburg sold a new dual tranche green bond on Tuesday, raising a combined Skr1.8bn across fixed and floating rate tranches. The note was the first printed under its new updated green bond framework.

Issuance is starting to resume after the summer break; however, this week a booming public market drew away investor and issuer attention from MTNs. Despite this, a range of established SSA, FIG and corporate borrowers have slipped in, with deals across core, niche and EM currencies.

KfW brought its revamped green framework to the Norwegian krone market to print a deal on Tuesday. Later that week, strong demand from domestic and international investors let the issuer increase the note to a record breaking size, printing the largest Nokkie green bond across any asset class.