SSA pair look to Scandinavia
Norwegian krone SSA supply is outpacing Swedish kronor so far this year, driven in part by a demand for zero risk weighted assets in the market. Among the latest names to access the Norwegian market is the African Development Bank, which sold a new social bond as part of a dual-currency issue.
Offshore SSAs have placed $2.8bn equivalent in Nokkie year-to-date, compared to $1.4bn equivalent in Swedish kronor, according to Dealogic.
Last year, the roles were reversed, as the Swedish market enjoyed a record $7.7bn worth of SSA deals, outstripping Norway's $5.9bn equivalent.“Interest rates in Nokkie have helped make a difference,” ...