White & Case and Milbank Tweed Hadley & McCloy have lined up on a $15bn (£9.4bn) covered bond programme that marks the first of its kind by a Nordic issuer in the US.

White & Case advised the issuer, Stadshypotek, a Swedish mortgage institution, with a team led by London capital markets head Francis Fitzherbert-Brockholes alongside structured finance partner Gavin McLean, arbitration partner Claes Zettermarck and tax partner Raymond Simon.