Nordics
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Funding to be provided by Danish sovereign and agency will cease issuing bonds immediately, ‘an absolute shock’
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Eleven banks in deal, down from 13 last time
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◆ Swedish issuer starts tight ◆ Deal lands close to recent SSA supply ◆ Seven year tenor offers investors something different
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◆ Note lands close to national champion ◆ Issuer targeted price over size ◆ Deal shows Fridays are an open window
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Issuer plans regular voyages to euro covered market
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◆ Investors flock to tightly priced trade ◆ Next to no premium paid ◆ Sparebanken Vest is still to come
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The refinancing comes as a two tranche facility
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◆ Both deals almost four times covered ◆ Pair tightened by 7bp ◆ Next to no premium paid for either bond
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◆ Some premium paid ◆ Cautious investors 'stay in the book' ◆ Swedbank was 'the right name' amid volatility
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The company's decision to replace its facilities follows an investment grade rating and bond issue
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◆ Norwegian lender shows longer tenors are no issue ◆ Investors flock to four times covered deal ◆ Slim premium paid to reopen market
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◆ A3 rated name opens wider than BBB euro debutant Galderma ◆ Rewarded with big, sticky book ◆ Attrition still clear in other trades