DnB NOR Boligkreditt Offers Up Norwegian Covered Bond

DnB NOR Boligkreditt is marketing €1.5 billion ($2.2 billion) of mortgage-backed covered bonds as part of its €15 billion ($22 billion) program.

  • 08 Nov 2007
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-- Daniel Flatt

DnB NOR Boligkreditt is marketing €1.5 billion ($2.2 billion) of mortgage-backed covered bonds as part of its €15 billion ($22 billion) program. This is the fifth transaction in the landmark series, which offered up the first covered bond to come out of Norway (TS, 06/07).

According to Moody’s Investors Service, holders of the bonds can benefit from a maturity extension of up to one year, which could reduce refinancing risk. In addition, DnB NOR Boligkreditt intends to enter into swap agreements to mitigate the interest-rate risk stemming from the combination of fixed-rate notes and floating-rate assets.

DnB NOR Boligkreditt is a wholly owned subsidiary of DnB NOR Bank, Norway’s largest financial services group with total combined assets of NOK1.6 billion ($303.6 million). Calls to officials at Moody’s and DnB were not immediately returned.

  • 08 Nov 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%