Norway

Adevinta, the online classified advertising division of Schibsted, shone in the aftermarket on Wednesday after the company began trading on the Oslo Børs following its Nkr2.87bn (€298m) IPO.

The IPO of Adevinta, the online classified advertising division of Norwegian media group Schibsted, is oversubscribed throughout the revised price range on the penultimate day of the bookbuilding, according to two sources close to the deal.

Kommunalbanken announced its funding plans for the second quarter this week. KBN has plans to issue another two benchmark transactions this year, with a focus on the three to ten year tenure.

Norway’s DNB Bank on Tuesday broke a record for the tightest pricing in preferred senior format so far this year, finding strong demand for a new transaction, despite market concerns about money laundering among Nordic financial institutions.

Adevinta, the online classified advertising division of Norwegian media group Schibsted, has set the price range for its IPO on the Oslo Børs, which may value the company at up to Nkr55.8bn (€5.8bn) if the deal is priced at the top of the range.

Norwegian media group Schibsted has launched a spinoff of its classified advertising division, having announced its intention to float on the Oslo Børs.

Both Kommunalbanken (KBN) and the International Finance Corporation (IFC) came to the Kangaroo market this week. A need for long dated Australian dollar paper from Japanese investors drove the deals.

Norwegian Air Shuttle, the Norwegian airline, has priced its heavily discounted Nkr3bn (€308m) rights issue receiving a high take-up from shareholders, despite safety concerns over some of its fleet and heavy shorting of the stock.

Kommunekredit, Kommunalbanken (KBN) and World Bank hit screens for dollar deals on Monday, as bankers said that this week offers a decent window for issuance in the US currency.

Taps in Oceanic currencies flowed freely this week as two supranationals raised funds in the Kangaroo and Kauri markets.

Sparebanken 1 Boligkreditt’s (Spabol) 10 year has the highest covered bond mark of all deals issued by any bank outside the eurozone this year on GC BondMarker. SEB issued the highest scoring Swedish deal and Royal Bank of Canada (RBC) issued the best ranking Canadian covered bond this year.

This week's scorecard looks at the progress Nordic agencies have made in their 2019 funding programmes halfway through the first quarter.