Finland
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Since the start of the Covid-19 crisis, Finland has found a novel way to meet its increased funding needs: private placements. Over the last six weeks, the sovereign has supplemented its regular auctions with €5.65bn of privately placed trades, issuing private debt off its benchmark bond programme for the first time ever. -
Finnish national airline Finnair has launched a rights issue in response to the coronavirus pandemic — the first in an expected wave of large European rescue recapitalisations.
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Swedish Export Credit (SEK) joined the ranks of SSAs increasing their funding programmes in response to the Covid-19 crisis this week. Meanwhile, Norway’s Kommunalbanken (KBN) has dropped its target by $2bn as a result of a weakening Norwegian kroner.
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This week's scorecard looks at the progress Nordic agencies have made in their 2020 funding programmes at the start of the second quarter.
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The Finnish Treasury said on Tuesday that it plans to increase its short-term borrowing to fund the government’s emergency fiscal package for the coronavirus outbreak.
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The Nordic region’s credit markets are experiencing something of a lockdown as the spread of Covid-19 lead to dozens of fund providers halting withdrawals last week and the effective closure of the primary market due to a shortage of liquidity.
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Despite the terrible effects of the coronavirus pandemic on capital markets, the MTN market is open and functioning.
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The first scorecard of 2020 looks at the progress Nordic agencies have made in their funding programmes at the start of March.
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Municipality Finance will look to issue a debut social bond in the second half of this year, having just become the first borrower in Finland to publish a framework for the format.
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Bank of America made a paper loss on a €455.4m block trade of shares in Sampo, the Finnish financial services group, on Tuesday night.
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