Alberta debuts in Nokkie

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By Frank Jackman
29 May 2020

Alberta made its first foray into the Norwegian kroner market on Thursday — the same day that S&P placed the province’s credit outlook on negative.

Province of Alberta placed a Nkr2bn ($206.5m) December 2022 floating rate note on Thursday. The bond pays a coupon of three month Nibor plus 200bp. Nordea priced the deal at par.

“The Scandinavian markets are a really active source for arbitrage funding for many different issuers,” said one banker ...

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