Nykredit will kick off the latest Danish auction season on Wednesday when it opens Dkr105bn (Eu14.1bn) of sales after bringing forward the start of its refinancings of adjustable rate mortgages (ARMs) ahead of the implementation of Basel III.

Svenska Handelsbanken sold a Eu1bn 10 year fixed rate senior unsecured benchmark into a buoyant market this (Thursday) morning, as syndicate officials declared covered bonds open after UniCredit sold the first Italian benchmark in a year on Tuesday.

The Covered Bond Report’s Neil Day spoke with Bengt Edholm, head of treasury at Svenska Handelsbanken, about the group’s funding strategy.