DNB Bank
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Nordic low cost airline Norwegian Air Shuttle will meet investors about a tap of its only euro bond on Monday. This time, it also plans a new €370m deal in Norwegian kroner. -
Euronav, the unrated Belgian oil tanker group, made its debut in the bond market on Tuesday after a second consecutive year of profits in a declining industry.
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Nets, the largest Scandinavian payments processor, priced its first euro bond on Thursday amid keen demand for top rated high yield paper that is leading to low coupons.
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Another day, another €1.5bn of high yield bond offerings was what Tuesday’s deals from Aramark, Anglo American and Arrow meant for a European market awash with double-B rated paper. But too much of a good thing is putting off some traditional high yield buyers.
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The City of Gothenburg is to raise debt in the Swedish and Norwegian currencies.
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Senior and covered bond spreads have plunged to new lows in the FIG primary market this week, with a host of banks looking to lock in unprecedented funding levels.
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Investors snapped up a tightly priced tier two from Norway’s DNB Bank on Monday, spying a rare chance to pick up good returns from a Scandinavian credit.
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Norwegian covered bonds could be in line for a ratings bump following implementation of the Bank Recovery and Resolution Directive (BRRD) said Standard and Poor’s. Separately, tighter Norwegian mortgage lending criteria should dampen house price inflation but it still remains unsustainably high, said Fitch.
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DNB Boligkreditt got the Nordic covered bond market off to a blistering start on Wednesday with a €2bn five year deal that leads were able to tighten by 5bp from initial guidance.
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Banca Monte dei Paschi’s shares leapt 7% on Wednesday morning, on growing hopes that a way will be found for the Italian state to strengthen its balance sheet, enabling it to achieve a €5bn capital raising demanded by the European Central Bank and avoid a bail-in.
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Tonight, Nordic Nanovector, the Norwegian developer of radio-immunotherapeutics for haematological cancers, is raising Nkr527m ($63m) to finance clinical trials, by placing new shares with institutional investors.
