Eksportfinans is welcomed in from the cold
Eksportfinans, the Norwegian export credit agency, was welcomed back to the dollar market with open arms this week, its five year global bond garnering orders of $2.5bn, allowing the agency to issue $1.5bn, its largest ever deal in dollar markets.
The pricing was also tighter than expected. Initially soft-sounded in the 50bp over mid-swaps area, official guidance was 45bp-50bp over, and the final pricing was set at 45bp.
Eksportfinans had been confined to the backwaters of the dollar market since June 2007, and in the meantime been downgraded from
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