Nordics
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The majority shareholder in Danish insurer Tryg has completed a 53m share sale to part-fund its participation in the company’s $6bn-equivalent rights issue. -
SR Boligkreditt issued its largest and longest covered bond on Wednesday, at the tightest spread it has achieved in more than three years, slightly inside fair value.
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Hypo Tirol Bank has mandated leads to roadshow its first social covered bond and SR Boligkreditt has mandated leads for a vanilla deal. Both issuers plan on following printing 10 year deals, where yields are almost positive.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, March 1. The source for secondary trading levels is ICE Data Services.
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Tryg, the Danish insurer, has revealed the terms for its $6bn equivalent rights issue to finance the Scandinavian operations of RSA Insurance Group.
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Trustpilot, the global review platform, has announced plans for an IPO on the London Stock Exchange, continuing the strong run of tech IPOs in Europe.
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Financial institutions have ramped up their sales of green debt at the start of 2021, as they look to take advantage of a quiet funding year by building out their environment, social and governance frameworks. This week, nearly all FIG euro issuance arrived in ESG formats.
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Tryg Forsikring found strong demand for a new restricted tier one (RT1) bond in the Swedish market on Wednesday, as it looked to optimise its capital structure in preparation for the purchase of RSA Insurance Group’s Nordic businesses.
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KommuneKredit mandated banks on Tuesday to follow its Nordic peer into the 10 year part of the euro curve, in what will only be the second public deal in the euro SSA primary market this week.
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A pair of sovereigns privately placed century bonds this week, with one of the borrowers — Ireland — dipping below the 1% point for the first time at this sort of tenor.
