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
Email a colleague
Request a PDF

-- 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 Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%