Another week of abundant supply in the government debt-deprived Norwegian krone market shrugged off Thursday’s Ascension Day holiday. Underwriters amassed Nkr3.2bn ($519m) of new issues by Wednesday, with deals including North Rhine-Westphalia’s first appearance in the market for three years.
NRWs Nkr750m four year at 122bp above the government three year on Wednesday marked the first German Land issue in the currency this year, though krone buyers have considerable exposure to German sovereign credit through KfW, the sectors largest issuer this year ahead even of the Norwegian
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