Sweden
May 22nd, 2017
Skandinaviska Enskilda Banken (SEB) took advantage of a strong post-FOMC market to attract some $3bn of demand to a $600m perpetual non-call five Additional Tier 1 on 16 March, its first AT1 transaction in over two years.
Posted in Sweden
Tags: Additional Tier 1, AT1, SEB, Skandinaviska Enskilda Banken, Sweden, Swedish
Jul 8th, 2016
DBRS published a first Legal & Structuring Framework (LSF) assessment of Swedish covered bonds yesterday (Thursday), highlighting some shortfalls but noting these are “not uncommon” and have mitigating factors, while also citing covered bonds’ connectedness to the economy as a strength.
Posted in Sweden
Tags: covered bonds, DBRS, Sweden, Swedish
May 13th, 2016
Länsförsäkringar Bank sold a SEK1bn (€108m) dual tranche five year senior unsecured bond on Wednesday, sensing an opportunity to tap into strong demand in an undersupplied market, according to the issuer’s head of long term funding, and is considering a debut public euro issue.
Posted in Sweden
Tags: krona, kronor, Länsförsäkringar Bank, LF Bank, senior, Sweden, Swedish
Apr 22nd, 2016
Stadshypotek looks set to issue covered bonds backed by a dedicated Finnish residential mortgage cover pool under Swedish legislation, after Moody’s yesterday (Thursday) announced a provisional Aaa rating for such covered bonds, with issuance off a Danish pool also a possibility.
Posted in Sweden
Tags: covered bonds, Danish, Denmark, Finland, Finnish, Stadshypotek, Sweden, Swedish
Apr 8th, 2016
LF Hypotek sold a €500m (SEK4.64bn) seven year covered bond on Tuesday, building an almost three times oversubscribed book while also setting the tightest price of any Nordic issue in the maturity this year.
Posted in Sweden
Tags: covered bond, euros, Lansforsakringar Hypotek, LF Hypotek, Sweden, Swedish
Mar 4th, 2016
Swedbank sold a Eu400m three year senior unsecured FRN on Wednesday that was priced above par in order to avoid the impact of negative rates, and bankers said it had done well to attract over Eu500m of orders and price the deal with no premium in light of using a still-novel elevated coupon.
Posted in Sweden
Tags: euros, FRN, Negative, senior unsecured, Swedbank, Sweden, Swedish
Feb 5th, 2016
Swedbank attracted the most demand of any euro benchmark covered bond this year on Wednesday, pricing a EUR1.25bn five year issue at only a modest new issue premium (NIP), and SEB yesterday (Thursday) built upon the template to issue a EUR1.5bn five year at the same level.
Posted in Sweden
Tags: covered bonds, euros, SEB, Swedbank, Swedbank Mortgage, Sweden, Swedish
Jan 29th, 2016
SCBC launched the first euro benchmark covered bond of the year from Sweden on Tuesday, attracting EUR1.4bn of orders for a EUR1bn (SEK9.28bn) five year, and bankers said the high quality issue appealed to risk-off investors after volatility had returned to financial markets.
Posted in Sweden
Tags: covered bonds, euros, SCBC, Sweden, Swedish, Swedish Covered Bond Corporation
Dec 11th, 2015
Standard & Poor’s said on Tuesday that although there are concerns about the health of the Swedish housing market, its ratings of covered bonds in Sweden already reflect such risks, with the rating agency citing state support and resilience of its ratings to a sharp fall in house prices.
Posted in Sweden
Tags: S&P, Standard & Poor's, Sweden, Swedish
Dec 4th, 2015
Swedish banks must tighten the internal models used to calculate their risk weightings and capital requirements, the Swedish FSA said, but it and Swedish bankers warned that standardised risk weights, as are foreseen under so-called Basel IV, could increase risks in the banking sector.
Posted in Sweden