Archive for October 2015
Oct 30th, 2015
Danske Bank announced third quarter pre-tax profits of Dkr4.7bn (Eu630m) yesterday (Thursday), 9% below consensus expectations on the back of negative interest rates in Denmark and low activity, although the bank maintained its net profit guidance for the full year.
Posted in Denmark
Tags: Danish, Danske, Denmark, results
Oct 30th, 2015
Swedbank priced an inaugural Australian dollar bond on Wednesday, a A$390m (Eu252m, Skr2.36bn) issue split into a A$325m three year FRN and a A$65m 10 year fixed rate tranche, which an official at the issuer said offered diversification and attractive funding.
Posted in Market
Tags: Aussie, Australian dollars, senior unsecured, Swedbank, Sweden, Swedish
Oct 30th, 2015
Skandinaviska Enskilda Banken (SEB) built a “rock solid” order book for a Eu1bn long seven year covered bond issue on Monday, according to an official at the Swedish issuer, who said the euro market continues to offer more attractive pricing terms and volume access than its domestic market.
Posted in Sweden
Tags: covered bonds, euros, SEB, Sweden, Swedish
Oct 23rd, 2015
Third quarter results of the big four Swedish banks came in below consensus expectations this week, with the impact of persistently low interest rates on net interest income (NII) and weak capital markets cited as contributing to the weaker than expected performance.
Posted in Sweden
Tags: Nordea, results, SEB, Svenska Handelsbanken, Swedbank, Sweden, Swedish
Oct 23rd, 2015
Swedbank Hypotek reopened the sterling covered bond market after two months without benchmark supply on Wednesday, and although the FRN was priced 10bp wider than preceding deals an official at the issuer said the sterling market still offered attractive funding.
Posted in Sweden
Tags: covered bonds, sterling, Swedbank Hypotek, Swedbank Mortgage, Sweden, Swedish
Oct 23rd, 2015
Eika Boligkreditt waited for a window amid heavy euro covered bond supply to sell its first euro benchmark of the year on Wednesday, pricing a Eu500m six year transaction with a relatively slim new issue premium after eight deals had hit the market in the first two days of the week.
Posted in Norway
Tags: covered bonds, Eika Boligkreditt, Norway, Norwegian
Oct 16th, 2015
Norway’s DNB Boligkreditt launched a Eu1.25bn (Nkr11.5bn) five year covered bond on Tuesday and market participants noted that its Eu1.8bn book represented greater oversubscription than levels achieved by CBPP3-eligible deals launched on the same day.
Posted in Norway
Tags: DNB Boligkreditt
Oct 16th, 2015
Nordea Bank Finland reopened the market on Monday alongside Bank of Ireland as euro covered bond supply picked up to reach Eu6bn and seven deals this week on the back of improving appetite from investors.
Posted in Market
Tags: covered bonds, Nordea Bank Finland
Oct 9th, 2015
Finland came second to Germany in a ranking by Moody’s of eight covered bond jurisdictions according to how they deal with the consequences of an issuer default, with Norway and Sweden being placed mid-table.
Posted in Ratings
Tags: Finland, Moody's, Norway, ratings, Sweden
Oct 9th, 2015
The euro covered bond market was quiet this week, with only one benchmark issued, but bankers are optimistic that successful deals will be done next week after sentiment improved and spreads tightened and with a handful of issuers, including Eika Boligkreditt, having been on the road.
Posted in Market
Tags: covered bond, covered bonds, Eika, Eika Boligkreditt