Svenska Handelsbanken subsidiary Stadshypotek priced the longest dated Yankee covered bond since the financial crisis on Tuesday, a $1.5bn seven year deal that came only two business days after the issuer made its Kangaroo debut, while Swedbank made a $1bn senior dollar debut.
Spreads on one year adjustable rate mortgage (ARM) bonds sold by DLR Kredit narrowed versus Nykredit ARM bonds on the second of two days of auctions by DLR, said analysts, after the issuer obtained a preliminary triple-A rating of its Capital Centre B issuance from S&P.
Nykredit Realkredit sold Skr5bn (Dkr4.39bn) of SDOs last week in a move designed to bring the Danish issuer’s Swedish krona bond sales closer to the model used by Sweden’s domestic covered bond issuers.
The Covered Bond Report’s Sue Rust spoke with Peter Holm, senior vice president, head of group funding, treasury, at Danske Bank about its recent Tier 2 issue, last week’s Sampo covered bond and more.
Vincent Hoarau, head of financial institutions, covered bond and ABS syndicate at Crédit Agricole CIB, takes a look at Danish Junior Covered Bond issuance.
Alex Sönnerberg, Nordic DCM Origination at Crédit Agricole CIB, explores trends in the performance of Nordic financial institutions’ issuance this year and makes predictions for a post-OMT market.
The Covered Bond Report’s Neil Day spoke to Merete Poller Novak, head of strategic funding and debt investor relations at Jyske Bank, about the bank’s funding strategy and developments in the Danish banking industry.
Sweden’s Stadshypotek is reopening the Kangaroo market for covered bonds with a dual tranche five year deal that is only the second to be sold into Australia by a European issuer since the crisis.
Spar Nord Bank and Sparbank have agreed to seek a merger, with Spar Nord as the continuing bank, the Danish banks announced on Tuesday.
Sweden’s Nordea Bank sold a US$1bn 10 year bullet Tier 2 deal on Monday, benefitting from a decision to broaden the deal’s scope to include the US 144A private placement market rather than only targeting Reg S accounts.