Sparebank 1’s chilly reception puts Nordic bid in question

Sparebank 1 Boligkreditt became the first Norwegian issuer in over two years to fail to attract a fully subscribed book when it priced a €1bn long six year benchmark on Tuesday. The anaemic result was surprising in the context of DNB Boligkreditt’s earlier success, leading bankers to question the choice of maturity, the appetite for Norwegian risk and the enthusiasm for tightly priced Nordic deals.