DNB Bank ASA top stories

• Favourable spreads offer SSA MTN sterling spree

  

  Three SSA borrowers issued a total of £200m ($255m) of medium-term notes in response to an inquiry for three year non-call one fixed rate sterling bonds on Tuesday — which probably all sold to the same buyer — amid an uptick of paper in the currency.

  • 13 Jun 2019

• Bankers expect busy corp bond week as markets rise on holiday

  This week is set to be busy in Europe's investment grade corporate bond market, despite yet another dead day on Monday because of public holidays. Equities rose on Monday and sentiment is good; market participants have decided they are comfortable with what they got from the European Central Bank on Thursday.

  • 10 Jun 2019

• Norwegian Property raises Nkr950m despite tough market

  While four new issuers were squeezing into the euro corporate bond market on Wednesday, Norwegian Property, an unrated real estate investment company, slipped a Nkr950m (€97m) three tranche deal into the market.

  • 07 Jun 2019

• Bayport issues pioneering microfinance Social Bond

  Bayport, the Mauritius-based microfinance company, issued the first African ESG bond outside the supranational sector, printing a $260m three year at 11.5% on Wednesday, and obtaining a social bond second opinion from Sustainalytics, at the suggestion of arranger DNB Markets.

  • 30 May 2019

• Norske Skog prints 600bp comeback

  DNB Markets has issued Norske Skog’s comeback bond, printing a €125m floater at 600bp over Euribor to fund repayment of shareholder loans from Oceanwood Capital Management, the fund which bought the firm out of its insolvency in late 2017. It also plans to take out a securitization facility lent by Oceanwood.

  • 29 May 2019

• SSAs pounce on Norway govvie redemption to raise MTN cash

  The recent redemption of a Norwegian government bond has led to an increase in Nordic currency issuance this week, according to one MTN banker. The European Investment Bank and KfW tapped these released funds to raise a combined Nkr1.5bn ($171.2m).

  • 23 May 2019

• Norske Skog tests turnaround belief with divi mandate

  Norkse Skog, the Norwegian paper manufacturer subject to one of the bloodiest restructurings in European high yield this decade, is ready to test the market again, just over a year after Christopher Gate’s Oceanwood Capital Management took over the troubled company.

  • 21 May 2019

• Thomas Cook bonds collapse on new senior loan, huge writedown

  Thomas Cook bonds traded down more than 12 points on Thursday in heavy volume, as the UK holidays group announced a new first-ranking loan for the winter season, a big goodwill writedown that took its pre-tax loss to £1.4bn, and a big drawdown on its revolving credit facility.

  • 16 May 2019

• Millicom, high yield and EM-focused, plans sustainable bond

  Millicom International Cellular, the emerging markets-focused telecoms group, is planning to issue its first sustainable bond. It published a Sustainability Bond Framework on Tuesday and will issue with a high yield rating.

  • 01 May 2019

• DNB diversifies into sterling after tight euro print

  DNB Bank dipped into the sterling market on Tuesday to raise £300m of preferred senior funding, less than a week after it issued the tightest-priced euro deal so far this year.

  • 10 Apr 2019