Norway's debut syndicated tap gets foreign investor boost

By Frank Jackman
19 May 2020

Norway’s debut syndicated tap went off with a bang on Tuesday, attracting a bumper Nkr37bn ($3.7bn) order book. The deal’s success was driven in part by increased demand from foreign investors for Norwegian govvies.

Foreign investors looking for FX hedging boosted the deal. “Norwegian government bonds are more attractive now, due to the cheaper level for foreign investors,” said an SSA banker at a Scandinavian firm. “For real money investors using three month FX forwards, the steepness of the kroner curve makes ...

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