Bonum Bank issued its first public deal this week, a €100m three year FRN that will provide the basis for the future wholesale funding plans of the Finnish POP Bank Group, according to the issuer’s head of treasury, who said Bonum may target €250m issues in future.
Danske sold its longest benchmark senior unsecured bond on Wednesday, a Eu1bn seven year issue that attracted over Eu2.3bn of demand. It issuer also last week launched its first benchmark, syndicated Norwegian krone covered bond, as part of a planned Norwegian expansion.
SEB sold a €1bn senior unsecured FRN with an uncommon four year maturity on Wednesday, opting for this partly to tap a part of the curve vacated in light of upcoming TLTROs, according to SEB’s John Arne Wang, with eventual demand of over €1.3bn surpassing expectations.
Iceland’s Arion sold a €300m (ISK41.9bn) three year senior unsecured bond on Tuesday, its second public euro-denominated issue, attracting mainly real money accounts and confirming the ability of Icelandic banks to access international markets at lower costs, according to the bank’s CEO.
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.
Danske attracted over €4bn of demand for a €1bn five year senior unsecured bond that surpassed expectations on Wednesday in an otherwise quiet week, with investors “scrambling” for what a lead banker said may be one of the last offerings of single-A rated senior paper before the onset of blackout periods.
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.
The Central Bank of Savings Banks Finland sold its second public bond issue on Tuesday, choosing what proved to be a slim window of stability to print a €250m two year senior unsecured FRN that the bank’s head of treasury said will fund a mortgage bank the group is establishing.
Pohjola Bank executed the first Nordic senior unsecured euro benchmark of 2016 on Wednesday, a €500m long five year deal that the Finnish issuer’s head of group funding said was sold with a relatively limited new issue premium.
Svenska Handelsbanken sold its first euro senior unsecured benchmark in over two years on Monday, attracting over Eu2.4bn of orders for a Eu1.25bn seven year, but in spite of this and some other successful supply in the FIG markets, bankers said issuers could now be done for the year.