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.

Länsförsäkringar Hypotek sold a Eu500m (Skr4.64bn) seven year covered bond at the tight end of its pricing expectations yesterday (Thursday), according to an official at the issuer, who said that it timed its deal to avoid competing supply from the Nordics and elsewhere.

LF Hypotek priced the first Swedish euro benchmark covered bond of the year on Tuesday, a Eu500m no-grow seven year that was one of three deals in the market on the same day in what was a busy week for euro covered bonds.

The Covered Bond Report’s Neil Day spoke with Martin Rydin, vice executive president, LF Hypotek, and head of treasury, LF Bank.