Sparebank divides the market

Sparebank 1 Boligkreditt adopted a cautious strategy when pricing its new seven year bond on Friday. The borrower offered a defensive high single digit new issue premium which bankers say has led to a repricing of its curve. Rival bankers said could have an affect on the Norwegian supply which is building in the pipeline. However, bankers on the deal said that the impact was minimal and that pricing was in line with other recent issues.