Swedish krona
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Kommuninvest will come to market this week for a seven year Swedish krona green bond.
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Swedish debt purchaser Intrum sold a tap of its 4.875% 2025 unsecured notes on Wednesday, intending to use the funds to part-pay its revolving credit facility. With a strong backdrop, and plenty of RCF drawings still outstanding, the company increased the deal by €50m during syndication.
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Deutsche Bahn tapped the Kangaroo and Swedish kronor markets on Wednesday after having spent the first half of 2020 focused on the euro market.
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The International Development Association (IDA) has tapped the Swedish krona market for the first time as it prepares to increase its funding programme for the 2020-21 fiscal year.
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KfW brought another landmark transaction under its recently updated green bond framework on Tuesday with a Skr7bn (€654m) issue that marked its largest bond in the Swedish currency.
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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.
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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.
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The socially responsible investment market in SSAs is picking up pace in 2019, with a supranational bringing a deal in a debut format and other issuers preparing inaugural trades.
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Kommuninvest has increased its funding needs for the year, as it prepares for the final quarter.
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Tryg Forsikring, a Danish insurance firm, came to the market on Thursday with a restricted tier one (RT1) bond in Swedish kronor. The majority of RT1s issued since 2016 have been in Nordic currencies.
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KfW is taking steps to diversify its green bond issuance away from euros and dollars. Taking advantage of strong demand for sustainable investment in Sweden, it sold its largest ever green Swedish krona bond.