SEB

Adevinta, the online classified advertising division of Schibsted, shone in the aftermarket on Wednesday after the company began trading on the Oslo Børs following its Nkr2.87bn (€298m) IPO.

The African Development Bank’s inaugural Norwegian krone bond, the first ever social bond in the Norwegian market, could pave the way for further social issuance in the sector.

The IPO of Adevinta, the online classified advertising division of Norwegian media group Schibsted, is oversubscribed throughout the revised price range on the penultimate day of the bookbuilding, according to two sources close to the deal.

An attractive Scandinavian market led two European sub-sovereigns to print private notes this week.

The Federal State of Saxony-Anhalt issued its debut Norwegian krone bond on April 1. The treasury was pleased with a successful private placement that could open up a new funding market for Saxony-Anhalt.

A strong Swedish market led the City of Stockholm to place its first private trade of the year on Monday. The Skr2.5bn ($268.4m) note was its largest non-syndicated issue since 2012.

Adevinta, the online classified advertising division of Norwegian media group Schibsted, has set the price range for its IPO on the Oslo Børs, which may value the company at up to Nkr55.8bn (€5.8bn) if the deal is priced at the top of the range.

Europe’s most prolific corporate bond issuer re-entered the market on Monday for its second multi-tranche deal of the year, and issued €2.75bn, slightly more than at its €2.5bn outing in January. The book for Volkswagen Financial Services’ three tranche issue was somewhat smaller this time, however.

Norwegian media group Schibsted has launched a spinoff of its classified advertising division, having announced its intention to float on the Oslo Børs.

Norwegian seafood company Mowi has launched a Schuldschein, joining a growing flock of Nordic issuers seeking funds in the German loan market.

Guarantor: Swedish local government members

Kommuninvest built out its Swedish krona green curve benchmark this week with its longest dated bond in the format. There is, however, an expectation that this Skr3.5bn ($382.3m) five year green bond could be the curve’s furthest extent.