Finland
-
-
KfW, the European Investment Bank (EIB) and, in the medium-term note (MTN) market, a German region and a Finnish agency have kicked off the Norwegian krone market for SSAs. Bankers are hoping to extend krone’s impressive form from last year into 2020. -
Investors piled into the euro public sector bond market on Wednesday, allowing borrowers to achieve well subscribed order books and minimal new issue concessions for a range of maturities.
-
Danske Mortgage Bank, Santander UK, Raiffeisenlandesbank Hypothekenpfandbrief and UniCredit Bank AG were marketing covered bonds on Wednesday, steering well clear of negative yields by tapping into healthy demand for long dated assets.
-
A strong reception for a five year euro benchmark by KfW on Tuesday was enough to lure in a hesitant flock of public sector borrowers to the euro market as the pipeline stacks up for Wednesday’s business.
-
Three companies piled into the euro bond market on Monday, but the deals drew mixed reactions. Two standard investment grade issues from LafargeHolcim and Ford Motor Credit appeared to fare better than a rare green hybrid from Citycon paying a juicy yield.
-
HVB, the German subsidiary of UniCredit, on Tuesday attracted one of the highest orders books for a €1bn covered bond from a core European bank in the last six months. It was able to tighten the pricing gap by 4bp to a competing deal issued by OP Mortgage Bank.
-
This week's scorecard looks at the progress Nordic agencies have made in their funding programmes at the start of November. Some of the issuers have also set their funding targets for 2020.
-
The Swedish krona MTN market’s bumper year received a further boost as nuclear power plant operator Teollisuuden Voima Oy (TVO) returned to the MTN market for the first time in five years to place a pair of notes in the currency. However, the return may be short lived, as TVO has plenty of access to cash and will take an opportunistic approach to future issuance.
-
Finnish agency Municipality Finance has faced a decline in callable MTN issuance this year as investors shun the format and move “more and more towards benchmarks with greater liquidity”, according to funding manager Martin Svedholm.
-
-
Finnvera stormed through its second — and probably final — syndicated trade of the year on Wednesday as it received a twice subscribed order book that allowed it to tighten the spread by 2bp.
