Archive for May 2014
May 29th, 2014
SEB priced a Eu1bn 12 year non-call seven Tier 2 issue last Thursday (22 May), which an official at the issuer noted is the first Swedish deal this year to feature a 12NC7 structure and was launched into a market that had lost some momentum.
Posted in Sweden
Tags: SEB, Skandinaviska Enskilda Banken, Sweden, Tier 2
May 29th, 2014
Nykredit sold some Dkr13bn (Eu1.74bn) of one year ARM bonds this week in the first auctions of covered bonds that feature maturity extension triggers in accordance with new legislation, and market participants said the auctions, although small, show demand to be largely unaffected by the changes.
Posted in About Us, Denmark
Tags: ARMs, auctions, Denmark, interest rate trigger, Nykredit, Nykredit Realkredit
May 29th, 2014
Nykredit Realkredit launched the first Tier 2 CoCo out of Denmark on Friday, a Eu600m (Dkr4.48bn) 22 year non-call seven transaction that was five times oversubscribed.
Posted in Market
Tags: Denmark, Nykredit, Nykredit Realkredit, Tier 2 CoCo
May 22nd, 2014
Danske Bank completed its first euro benchmark flow funding exercise of the year yesterday (Wednesday), a Eu750m three year senior unsecured floating rate note felt to be best suited to a softer market, while SEB was today out with the fourth Nordic Tier 2 issue of the year.
Posted in Market
Tags: Danske, Danske Bank, Denmark
May 22nd, 2014
The designation of DNB, Nordea Bank Norge and Kommunalbanken as systemically important financial institutions (SIFIs) by the Norwegian Ministry of Finance is credit positive, Moody’s said on Monday, noting that an FSA proposal to include regional players was not taken up.
Posted in Norway
Tags: DNB, Moody's, Nordea Bank, Norway
May 22nd, 2014
Nordea priced a ¥100bn (Eu720m, Skr6.47bn) three tranche Samurai today (Thursday), with a lead banker noting that the deal beat a Rabobank Samurai from last week on pricing and size.
Posted in Sweden
Tags: FRN, Nordea, Nordea Bank, Sweden
May 16th, 2014
The delegated Act on the LCR, or rather a DG Market Staff Paper on the matter was leaked this week. It is important to stress that this is not yet the final version.
Posted in From Crédit Agricole CIB
May 16th, 2014
SpareBank 1 SMN sold its second euro fixed rate senior unsecured benchmark on Tuesday, a Eu500m no-grow five year issue that was priced 35bp tighter than its debut last year and, according to an official at the Norwegian bank, came with a narrower spread differential to its peers.
Posted in Norway
Tags: Norway, SpareBank 1 Boligkreditt
May 16th, 2014
Moody’s upgraded Aktia Real Estate Mortgage Bank covered bonds from Aa3 to Aa2 on Tuesday after designating the covered bond anchor point the senior unsecured rating plus one notch.
Posted in Ratings
Tags: Aktia, Aktia Bank, Aktia Real Estate Mortgage Bank, Aktia REMB, Moody's
May 16th, 2014
Stadshypotek launched a rare euro floating rate covered bond this (Friday) morning, a Eu300m five year issue that was launched opportunistically in response to interest in the format from investors, with the deal providing the issuer with attractive funding versus its curve, according to a lead syndicate banker.
Posted in Market
Tags: Handelsbanken, Stadshypotek, Svenska Handelsbanken