The Covered Bond Report’s Neil Day spoke to John Arne Wang, head of treasury management at SEB, about the bank’s recent tier two issue and its funding strategy.

Nordic banks’ strong credit stories have been a key factor in enabling their position alongside Dutch banks at the head of a wave of lower Tier 2 issues hitting the market since last week, Fitch said on Tuesday.

Skandinaviska Enskilda Banken raised Eu750m of tier two capital yesterday (Wednesday) amid a flurry of subordinated debt that also saw Danske Bank mandate for a US dollar issue.