DNB Boligkreditt attracted strong US interest with a $1.25bn (Eu1.12bn, Nkr9.44bn) five year benchmark covered bond on Wednesday, and yesterday (Thursday) achieved tight pricing with a Skr4bn (Nkr3.61bn, Eu430m) subordinated issue that a banker said he believes to be the largest ever Tier 2 in the krona market.

Nordea launched its second Additional Tier 1 issuance yesterday (Thursday), a multi-currency three tranche package including $500m, Skr2.25bn and Nkr1.25bn pieces for an aggregate of Skr8.15bn (Eu882m) that achieved the joint lowest coupon for an AT1 benchmark.

SEB added another string to its bow by making its US dollar covered bond debut on Tuesday, pricing a $1.5bn five year deal on the back of strong demand and only 1bp wide of where Stadshypotek tapped the market last week.

Svenska Handelsbanken subsidiary Stadshypotek sold a $1.25bn (Eu970m) five year covered bond yesterday (Thursday), attracting some $1.7bn of demand in a return to form after a difficult euro benchmark in March.

SpareBank 1 Boligkreditt priced a $1bn five year deal yesterday (Wednesday) after choosing the US dollar market over euros for its first benchmark covered bond of the year to capture momentum from a recent roadshow in the US, while a French issuer is also said to be eyeing dollars.

A US$1bn five year Swedbank covered bond launched at the end of March was prompted by positive feedback from US investors and the contrasting fortunes of recent euro and dollar Nordic benchmarks, said the issuer’s head of funding, but the mortgage lender could return to euros later this year.