Avinor has smooth landing with €500m no grow 10 year as state ownership calms

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By Mike Turner
24 Sep 2020

Avinor, the Norwegian airport and air navigation services company, found enough demand to cover its €500m no-grow trade by six times on Thursday, with the company's 100% state ownership winning over investors.

Avinor, rated A1/A, opened books on the September 2030 trade at 150bp over mid-swaps after holding investor calls on Wednesday. 

“The way it is positioned, it’s more like a utility than something from the airline sector,” said a bond strategist at an asset manager.

The Norwegian state owns 100% of ...

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