Norway
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◆ Norwegian issuer returns to hybrid market after 2023 debut ◆ Issuer slashes spread by 62.5bp ◆ €5bn peak book drives pricing through fair value
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◆ Spread was tightened by 5bp through execution ◆ Order book was ‘high quality’ says banker ◆ Norweigan bank's first covered since October
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Norwegian issuer returns to dollar market after eight year absence
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◆ Norwegian bank increases size ◆ Issuer meets spread objective ◆ Banker said he drew confidence from secondaries
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◆ Deal came on busy day with €13bn of volume across secured and unsecured FIG issuance ◆ €2.1bn final book ◆ Flat to fair value or even negative concession
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Suspension of Council of Ethics lays bare difficult choices
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Focus on diversification boosts activity across Australian, Canadian and Danish markets and many more
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◆ Norwegian utility prints 13 year green bond ◆ Deal lands in the mid range of guidance ◆ Selective tone in a softer backdrop
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◆ Trade the first since merger in May ◆ New name appeals to sticky investors ◆ No concession needed to secure size
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Deal will be the first since the Sparebanken Vest and Sparebanken Sor merger
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◆ Deal appears tight compared to recent supply ◆ 'Decent' pick up paid over SSAs ◆ Slim premium offered over Nordic peers
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