Norwegian government backstops high yield companies with bond fund
The Norwegian government’s support package for large companies goes beyond that announced in other jurisdictions, in actively buying bonds from companies deep in sub-investment grade territory, helping the country's vital oil exploration, shipping and oil services firms to access financing.
This comes in stark contrast to the UK, eurozone and US corporate support packages, in which the Bank of England, ECB and the US Federal Reserve will buy bonds down to the lower edge of investment grade but no further.“In support packages elsewhere, there’s a clear division ...
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