Nordax to sell more juniors in consumer ABS

By Tom Porter
29 May 2014

Scandinavian consumer lender Nordax Finans is set to sell notes down to triple-B in its second Norwegian krone securitization, offering twice as many tranches as its first three years ago and at a fraction of the spreads.

Sole arranger and lead manager Deutsche Bank was expecting to price Scandinavian Consumer Loans IV on Friday, with Sweden-based Nordax selling NKr1.73bn (€213m) of bonds across four tranches in addition to retaining a NKr392.11 tranche.

Investors have been offered a NKr943m triple-A rated 2.78 year ‘Class A’ tranche ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial