SEB

Sweden’s EQT, the private equity company, has followed up on its summer signing of the biggest ever ESG-linked subscription facility with a second deal of the same maximum size. Lenders say this is further proof that ESG is becoming more important to private equity.

Citycon Group, the Nordic shopping centre company, has signed €500m of revolving credit facilities. It wants to shore up its balance sheet as it teeters on the edge of a junk rating.

The Kingdom of Sweden will come to market on Wednesday for a new 25 year Swedish krona benchmark, coming on the heels of a green bond from the City of Gothenburg.

Supply in the SSA dollar market is clustered at the short end of the curve, as borrowers focus on defensive tenors ahead of the upcoming US election. Kommuninvest landed a sizeable benchmark on Tuesday, while Kommunalbanken will follow suit on Wednesday.

BNP Paribas made use of a conducive backdrop this week to build a strong orderbook for a new green non-preferred senior deal.

By offering a hefty pick-up over national champions, Bluestep Bank, a Swedish non-standard mortgage lender, attracted a hefty order book for the second deal from its newly established covered bond platform this week.

Europe’s high grade primary market chugged on with a handful of trades on Wednesday, but syndicate bankers acknowledge that supply looks to be muted in what should usually be a hectic period.

Svenska Handelsbanken found tight pricing for a dual offering of additional tier one (AT1) notes on Tuesday. It became the first European bank to set a dollar AT1 coupon of less than 4.5% for one of its tranches.

Experian Finance, a credit scoring company, was out in the sterling bond market on Monday as a slew of euro corporate bond mandates hit screens. But the flurry is unlikely to lift a lacklustre September and a final quarter issuance window stymied by the US election means that analysts expect euro debt volumes to be almost flat on 2019.

Avinor, the Norwegian airport and air navigation services company, found enough demand to cover its €500m no-grow trade by six times on Thursday, with the company's 100% state ownership winning over investors.

Avinor, the Norwegian airport and air navigation services operator, has hired banks for a €500m no-grow bond issue, in the latest test of investor appetite for the heavily battered aviation sector.

Swedish debt purchaser Intrum sold a tap of its 4.875% 2025 unsecured notes on Wednesday, intending to use the funds to part-pay its revolving credit facility. With a strong backdrop, and plenty of RCF drawings still outstanding, the company increased the deal by €50m during syndication.