Swedbank

Swedbank returned to the euro market for a new tier two bond on Tuesday, more than a year after setting a record tight for spreads in the asset class.

Swedbank was four times subscribed for a new five year senior deal on Monday, as banks filed back into the euro market before the traditional end of the summer period.

The European Securities and Markets Authority recently fined a clutch of Nordic banks for breaking credit rating regulations. The decision could have implications for the Schuldschein market — where arranging banks issue similar ratings to investors.

The European Securities and Markets Authority’s (ESMA) decision to fine five Nordic banks last week has raised two questions: just how consistently will rules be applied across Europe, and is it even appropriate that they are?

The European Securities and Markets Authority on Monday issued fines to five banks from the Nordic region totalling €2.475m, for issuing credit ratings without having gained the necessary approval.

Danske Bank has added two new members to its FIG origination team in Copenhagen.

Swedbank has grown its DCM syndicate team after hiring an SSA and FIG focused banker from a Nordic rival.

Sweden’s SSAB has ramped up the size of its euro denominated revolving credit facility to €600m, as the high strength steelmaker becomes the latest beneficiary of the liquidity flooding the loan markets.

Sweden’s Lundin Petroleum has slashed 90bp off the margin of its $5bn reserves-based lending facility, as borrowers continue to heap pressure on lenders over pricing.

Swedbank announced in its results on Tuesday that a proposal to change the regulatory treatment of Swedish mortgages would lower its common equity tier one (CET1) ratio. The rule change will also take Swedish banks’ additional tier one (AT1) bonds closer to their trigger levels.

D Carnegie & Co, Sweden's largest listed residential property developer, is raising capital through a rights issue to expand is investment and development opportunities.

The Basel III reforms will create a 4% capital shortfall across the banking sector that could be covered in close to three years, according to analysts at UBS.