Sweden’s Skandiabanken plans to issue its first covered bond at the end of the month after having turned to the asset class as part of its plans to use the capital markets to diversify its funding sources and support the banks’ growth ambitions, an official told The Covered Bond Report.

Norway’s Sandnes Sparebank Boligkreditt has obtained a first rating of its covered bonds, AA- from Fitch, and an official at the issuer told Nordic FIs & Covered that the rating was sought to boost investor confidence in the programme.

We spoke to SBAB head of investor relations Louise Bergström after the launch of its recent senior unsecured benchmark, and discussed the issuer’s overall funding plans with respect to ALM, covered bonds and regulation.

Nykredit Realkredit drew Skr50bn of orders when it sold Skr10.3bn (Eu1.18bn, Dkr8.81bn) of one year SDOs backed by Swedish mortgages in its third such sale last Thursday (August 29). Meanwhile DLR Kredit rounded off the latest Danish auction season today (Thursday).

Sweden’s SBAB launched a Eu750m seven year senior unsecured transaction last Thursday (29 August) and an official at the issuer said it contributes to the bank’s goal of extending its maturity profile and was timed to take advantage of strong market momentum.

DLR Kredit will align its sales to coincide with those of its peers when the next Danish auction season begins in November, with the issuer having attracted weaker interest when finishing off the latest round of sales this week, according to an official at DLR Kredit.

Norway’s Sparebanken Vest Boligkreditt priced its first benchmark euro covered bond in more than one-and-a-half years yesterday (Wednesday), a Eu500m no-grow five year deal that an official at the issuer said went “smoothly and swiftly” and bodes well for an envisaged increase in euro issuance.