Eksportfinans: awkward execution sends a useful warning
Eksportfinans’s decision to pull a Eu1bn two year bond last week perturbed the triple-A bond market: that sort of thing just isn’t supposed to happen in the best circles. Better handling of the deal might have helped, but there is no cause to detect either incompetence or a drastic failure of demand. Rather, the episode shows how deft issuers have to be in tricky markets.
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