Posts Tagged ‘ Sweden ’

LF Hypotek €500m covered sets 2016 Nordic sevens tight

Apr 8th, 2016
LF5200

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.



Jyske sells €500m senior fixed debut, SBAB returns

Apr 8th, 2016
JyskeFacade_aften300

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.



Swedbank Eu400m FRN well bid despite ‘somewhat daunting’ coupon

Mar 4th, 2016
Swedbank image

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.



Swedbank in EUR1.5bn ‘blowout’ covered bond at low NIP, SEB follows

Feb 5th, 2016
Swedbank

Swedbank attracted the most demand of any euro benchmark covered bond this year on Wednesday, pricing a EUR1.25bn five year issue at only a modest new issue premium (NIP), and SEB yesterday (Thursday) built upon the template to issue a EUR1.5bn five year at the same level.



SCBC in quality Eu1bn covered against choppy backdrop

Jan 29th, 2016
SBABinstagram

SCBC launched the first euro benchmark covered bond of the year from Sweden on Tuesday, attracting EUR1.4bn of orders for a EUR1bn (SEK9.28bn) five year, and bankers said the high quality issue appealed to risk-off investors after volatility had returned to financial markets.



Swedes critical of covered harmonisation, Danes in warning

Jan 8th, 2016
Drapeaux européens devant le Berlaymont

The Association of Swedish Covered Bond issuers (ASCB) has criticised the proposition that harmonisation of covered bond frameworks, as outlined in a European Commission paper, would be beneficial, as market participants responded to the consultation ahead of an originally-scheduled deadline of Wednesday.



Sterling attractive as Nordea Eiendomskreditt sells £400m FRN

Jan 8th, 2016
Nordea Frogner Oslo NNFIC

Nordea Eiendomskreditt attracted £425m of orders for a £400m (€545m) three year floating rate  covered bond on Wednesday, which, alongside similar issues for Lloyds beforehand and Bank of Nova Scotia afterwards, bankers said shows sterling to be an attractive option for issuers.



Swedish covered ratings reflect risks, says S&P, despite housing fears

Dec 11th, 2015
Riksbank image

Standard & Poor’s said on Tuesday that although there are concerns about the health of the Swedish housing market, its ratings of covered bonds in Sweden already reflect such risks, with the rating agency citing state support and resilience of its ratings to a sharp fall in house prices.



Sun setting on 2015 issuance after Handelsbanken highlight

Dec 11th, 2015
Svenska HandelsbankenOLYMPUS DIGITAL CAMERA

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.



OP leads way as Nordics show covered bond mart’s strength

Nov 20th, 2015
Photo: Lauri Silvennoinen/Wikimedia Commons

OP Mortgage Bank set the tone for a strong week in the covered bond market with a Eu1.25bn five year issue on Monday that attracted orders approaching Eu1.8bn at a limited new issue premium, with Stadshypotek and Danske Bank Finland following successfully in its wake.