Austevoll is latest to enjoy Norwegian high yield party
Norwegian fishing and fish farming company Austevoll Seafood ASA launched a Nkr500m October 2018 bond on Tuesday with a coupon of 410bp over quarterly Nibor, evidencing the widening interest that investors are showing in krone-denominated debt.
Bookrunners DNB and Pareto Securities said the deal was substantially oversubscribed, but the issuer had not wanted to grow it beyond the Nkr500m target set. One London-based high yield investor thought the deal had been three times oversubscribed, but the leads declined to comment.
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