POWER: Sweden to Start Build on New Nuke in 2026
Sep-27 09:18
Sweden will start construction on a new nuclear reactor before the next legislative election in 2026, Prime Minister Ulf Kristersson stated in an interview published on Friday, cited by Bloomberg.
- The goal is to commission the first reactor in the early 2030s. Land acquisition has started, but environmental permits have not yet been applied for.
- The decisions required to build new nuclear power will have been taken. And hopefully that will be combined with a physical spade in the ground," Kristersson said.
- Sweden’s Vattenfall is also looking at applying 300MW SMRs in the country.
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EURIBOR: EURIBOR FIX - 28/08/24
Aug-28 09:17
EURIBOR FIX - EMMI/Bloomberg
- EUR001W 3.6090 -0.0130
- EUR001M 3.5920 0.0080
- EUR003M 3.5050 -0.0100
- EUR006M 3.3910 0.0060
- EUR012M 3.1190 0.024
EFSF ISSUANCE: RFP for Syndication - MNI expects transaction next week
Aug-28 09:16
“Today ESM has sent a Request for Proposal to a selection of banks from the EFSF/ESM Market Group with regards to an upcoming transaction, subject to market conditions.”
- The ESM has E4bln remaining in its funding plan for 2024 (it has already issued a 5-year bond in March for E2bln).
- However, September has typially been the month that the ESM conducts a USD-denominated syndication, so the timing of this RFP (which we would expect to result in a EUR-denominated deal) makes the probability of a USD transaction in 2024 lower, in our view.
- Given that we have just seen a long 3-year and 7-year EFSF issue we think that different maturities are likely to be on offer - so we look for either a 2-year, 5-year or possibly 10-year maturity as possibilities.
- We expect a transaction on Tuesday 3 September or Wednesday 4 September with E2.0bln WNG sold (and a small outside chance of larger - potentially up to the remaining E4.0bln funding need for the remainder of the year).
SONIA: Call spread buyer
Aug-28 09:15
SFIM5 96.50/96.70cs, bought for 5 in 4k.
