Posts Tagged ‘ SBAB ’

Jyske sells €500m senior fixed debut, SBAB returns

Apr 8th, 2016

Jyske Bank sold a debut €500m fixed rate senior unsecured benchmark bond yesterday (Thursday), and an official at Jyske explained that it had moved away from its previously preferred FRN format because of a changing regulatory environment. SBAB on Monday sold its first fixed rate senior issue in two years.

SCBC adjusts expectations as mart widens, Eika to roadshow

Oct 2nd, 2015

Swedish Covered Bond Corporation (SCBC) adjusted its pricing expectations in the face of a widening market when printing a Eu750m five year covered bond on Monday, according to an official at the issuer, who said the outcome was a strong result in difficult conditions.

SEB hits slim window, SCBC ‘realistic’ as volatility returns

Jun 12th, 2015

SEB took advantage of a window of stability early this week to issue a Eu1bn (Skr9.36bn) seven year covered bond on Tuesday, but both it and SCBC, which launched a Eu500m seven year into a deteriorating market on Thursday, had to revise their pricing expectations.

LF Bank in tight Skr1.2bn AT1 debut, SBAB sells krona Tier 2

Jun 5th, 2015

Länsförsäkringar Bank (LF Bank) sold its inaugural Additional Tier 1 issue on Tuesday, a Skr1.2bn (Eu128m) perpetual non-call five issue that achieved tight pricing relative to international markets and also LF’s Swedish peers in the domestic market. Meanwhile, SBAB issued a Skr1bn 10 year non-call five Tier 2.

SBAB in Eu750m senior return, covered next up

May 29th, 2015

SBAB launched its first benchmark euro senior unsecured floating rate note since January 2012 on Wednesday, a Eu750m (Skr6.94bn) three year issue that the issuer’s head of investor relations said is likely to be followed by a euro benchmark covered bond by the end of the third quarter.

Danske profits from better tone to sell Eu750m senior

May 29th, 2015

Danske Bank and SBAB took advantage of last week’s reopening of the euro FIG market to issue Eu750m senior unsecured fixed and floating rate benchmarks, respectively, this week, as the better tone was maintained in spite of ongoing concerns about Greece.

SBAB tight to Nordea in Skr1.5bn debut AT1 with biggest buffer

Mar 13th, 2015

SBAB sold its first Additional Tier 1 issuance on Monday, Skr1.5bn (Eu163m) of perpetual non-call five notes split into fixed and floating rate tranches that were priced just 15bp wider than where Nordea last week issued krona AT1.

Moody’s highlights lower fire-sale risk from SCBC soft bullet

Oct 10th, 2014

Moody’s noted that the soft bullet mechanism used by SCBC for the first time on a Eu1bn covered bond launched on Tuesday of last week (30 September) reduces fire-sale risk associated with covered bonds in the event of default, which is the major driver of cover pool losses.

SCBC back after deposit drive, plans yearly euro benchmarks

Oct 2nd, 2014

SCBC sold its first euro benchmark in three and a half years on Tuesday, a Eu1bn (Skr9.1bn) seven year that is understood to be the first soft bullet covered bond out of Sweden, and an official at the issuer said it will now be returning to the euro-denominated market on a yearly basis.

S&P ups Danske but BRRD hits banks, covered RFC due

May 1st, 2014

S&P upgraded Danske and took rating actions on Swedish banks on Tuesday in connection with a raft of actions on European banks to reflect less assumed government support given new resolution frameworks, and also flagged plans to incorporate this into covered bond ratings.