Swedbank

Following a series of investor calls, Sweden has announced the tenor of its debut green bond, which is expected to be issued early next week through syndication.

Sweden began a series of calls with investors on Wednesday as it prepares to issue its highly anticipated inaugural green bond through syndication later this month.

Northvolt, the Swedish battery maker, has signed a $1.6bn credit facility. A range of lenders — from commercial to governmental — piled into the deal, which will effectively create a new industry in Europe.

Smaller loan loss provisions and high capital ratios have helped Nordic lenders to kick off European bank earnings season in a positive fashion. But analysts are cautious about drawing any conclusions for the rest of the sector.

The Swedish National Debt Office has selected the maturity range for its debut green bond and the banks that will lead the transaction, which will take place via syndication in August.

Sparebanken Vest Boligkreditt did not need to offer any premium to investors to complete its debut sale of green covered bonds on Wednesday. The deal adds to a recent flurry of socially responsible investments, which are offering financial issuers very competitive terms.

Sovereign, supranational and agency bond issuers are mobilising their resources to support the fight against Covid-19. The below table details the bonds they have issued, specifically in response to the coronavirus pandemic.

Weaker trading conditions have done little to shake expectations for a new wave of additional tier one (AT1) supply, writes Tyler Davies, with three banks having reopened the market in emphatic fashion this week, issuing €3.1bn-equivalent of debt into more than €20bn of demand.

ABN Amro and Commerzbank have proven that the additional tier one (AT1) market is wide open for business, after they clocked up more than €17bn of combined demand for their two new deals on Monday.

Sweden’s Volvo Car, a car maker, has become the latest company under pressure from the coronavirus pandemic to sign a state-guaranteed loan, as bankers say that state support is essential to secure commercial bank loans for the worst affected sectors.

The recent maturity of a large Nokkie line released NOK9bn ($904.5m) into the market last week, with some foreign investors eager to reinvest in attractive short end paper.

With the demand for green loans from its members increasing, Kommuninvest printed its tenth green transaction this week, raising Skr5bn ($520m). Despite the increased demand for green loans, Kommuninvest is yet to proceed with its euro green debut.