Swedbank

A pair of SSA borrowers hit screens on Wednesday for green euro benchmarks. However, one has decided that its marketing process will be entirely conducted over the phone.

The euro market had no trouble digesting a pair of similar trades from Landesbank Baden-Württemberg (LBBW) and Svenska Handelsbanken this week, with both banks printing non-preferred senior bonds at 58bp and paying a small new issue premium to investors.

Financial institutions did not take long to return to printing new bond deals at tight spreads this week, as investors quickly got over fears about the impact of the coronavirus epidemic.

Swedish issuer Kommuninvest is preparing to launch its first deal of 2020 — a five year Swedish krona note.

Denmark's Torm has signed $496m of bank loans, as new regulations affecting the global shipping industry take hold.

Sweden’s Swedavia, an airport operator, has printed a Skr1bn (€94m) green bond, the issuer’s debut outing in the sustainable bond market.

Three companies piled into the euro bond market on Monday, but the deals drew mixed reactions. Two standard investment grade issues from LafargeHolcim and Ford Motor Credit appeared to fare better than a rare green hybrid from Citycon paying a juicy yield.

The positive market backdrop has driven smaller and less well-known bank issuers to come forward with rare new bond issues. But they are showing up just as investors pack up for the year, meaning they must work hard to lure enough demand, writes David Freitas.

Dekabank was quick to launch a preferred senior bond on Thursday, garnering 2.5 times the demand it needed for its €500m print by mid-morning in London. The German lender only ended up paying a small new issue premium to its investors.

National Express and Citycon mandated banks on Thursday for bond issues, piling into the November issuance spree before the market goes into hibernation next month.

Skandinaviska Enskilda Banken (SEB) got away without having to pay any sort of a premium for its debut non-preferred senior bond on Monday, despite having to compete for attention with Nordic peer OP Corporate Bank.

The Swedish krona MTN market’s bumper year received a further boost as nuclear power plant operator Teollisuuden Voima Oy (TVO) returned to the MTN market for the first time in five years to place a pair of notes in the currency. However, the return may be short lived, as TVO has plenty of access to cash and will take an opportunistic approach to future issuance.