DNB issues most subscribed covered bond

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By Bill Thornhill
14 Jan 2021

DNB Boligkreditt issued a covered bond on Thursday that became its most oversubscribed covered bond ever, equalling the bank’s biggest ever order book. The deal, secured on green mortgages, was priced through its vanilla curve, clearly demonstrating the demand for covered bonds.

The €1.5bn 0.01% January 2031 deal attracted demand of €3.2bn. This matched the bank’s largest ever order book, which it received for a €2bn 0.05% January 2022 issued in January 2017.

This week’s deal was subscribed 2.1 times, easily beating DNB’s previous records of 1.6 times for its 1.875% ...

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