DNB Bank
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Sweden’s Volvo Car, a car maker, has become the latest company under pressure from the coronavirus pandemic to sign a state-guaranteed loan, as bankers say that state support is essential to secure commercial bank loans for the worst affected sectors. -
Norway’s debut syndicated tap went off with a bang on Tuesday, attracting a bumper Nkr37bn ($3.7bn) order book. The deal’s success was driven in part by increased demand from foreign investors for Norwegian govvies.
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High grade corporates poured into the primary market on Monday, with sentiment noticeably higher as the first trial for a Covid-19 vaccine in the US and easing of lockdown restrictions in Europe cheered markets.
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The Kingdom of Norway is set to sell its first ever syndicated tap. The sovereign hit screens on Monday with initial price thoughts for the reopening of a 10 year Norwegian krone bond.
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The oil price slump on Monday spelt trouble for issuers in the already underperforming Norwegian krone bond market. Amid this turbulence, state-owned Norwegian airport operator Avinor flew in on Wednesday to print a Nkr2bn ($187.8m) dual floating and fixed tranche deal.
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Europe’s high grade corporate bond market faced one of its biggest tests on Wednesday, with France’s Auchan, which operates in the heavily disrupted retail sector, getting a deal away with one of the larger new issue concessions seen in recent weeks.
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The World Bank followed up Wednesday’s record breaking dollar deal with another one for the record books on Thursday, scooping up Skr11.5bn ($1.2bn) in the Swedish krona market to combat the coronavirus pandemic.
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The Kingdom of Norway hit screens on Tuesday with initial pricing thoughts on its yearly syndicated benchmark.
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The Kingdom of Norway is eyeing the international investor base as it prepares to launch its yearly Norwegian krone bond syndication — a new 10 year benchmark, set to mature in August 2030.
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BW Offshore, the Norwegian operator of floating oil storage vessels, has fixed a price range for the Nkr1.659bn ($187m) listing of its exploration and production unit BW Energy on the Oslo Børs.
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The Norwegian krone bond market is about to get a spurt of corporate deals. Liquid chemical storage company Stolt-Nielsen and energy group Eidsiva Energi have mandated banks to lead bond issues in their domestic currency.
