SEB
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Finland’s Ahlstrom-Munksjö has signed $1.09bn-equivalent in acquisition and backstop facilities, as the fibre materials company prepares to buy US paper producer Expera Specialty Solutions. -
Nordic and Eastern European telecoms group Tele2 is planning to fund its acquisition of peer Com Hem with its first bond in euros, as borrowers return from earnings blackouts leading to more activity in the primary markets.
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Established SRI bond issuers are bringing deals to market over the coming weeks, including a new format from a seasoned borrower.
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Swedish bank SEB has appointed a new head of large corporate coverage in the UK, luring a managing director from Santander.
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The European Investment Bank launched its new line of Sustainability Awareness Bonds on Thursday, with a €500m issue that found keen demand from investors. The EIB hopes the SABs will influence the debate on classification in the world of sustainable finance, including the European Commission’s new official Taxonomy of sustainable economic activities.
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The European Investment Bank achieved very tight pricing for the launch of its first sustainability bond on Thursday, in a sign that the exhaustive marketing it had done for the €500m deal had succeeded. The EIB sees this new product line as a way to influence market practice in the direction of clear explanation of sustainability goals and indicators.
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The Nordic high yield market has started to price several top rated euro deals that were initially planned to roadshow before the summer break. This time, demand and coupons suggest this could be a better window for the issuers.
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BMW and Daimler reopened Europe's corporate bond market on Thursday in emphatic style, reminiscent of the market's usual reopenings after Christmas, when car companies often take the lead. Such a clear and classical restart to issuance, this early in August, is unusual.
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Private equity firms have bolstered their high yield footprint in European and Nordic issuance, but yield spreads are also running up, according to SEB this week.
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Sweden’s Modern Times Group (MTG) and its subsidiary Nordic Entertainment Group have agreed a five year revolving credit facility in the run up to the subordinate company being spun off.
