Oil price drop pushes busy Norway high yield market wide

By Victor Jimenez
10 Nov 2014

Spreads of EU and US high yield corporate bonds began to tighten in November, yet their Norwegian counterparts have continued widening, pushed by the current global oil price depression. Many issuers in Norway's busy high yield market are linked to the offshore oil industry.

High yield corporate bond spreads in Norway, tracked by the Norwegian investment bank Fearnley Securities' FS Index, widened to 727bp last week, from just above 500bp in mid-October. 

That compared with the Markit iTraxx Crossover index trading in a range around 350bp, and the Bloomberg Active HY index of ...

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