Norway
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DNB Boligkreditt attracted a comfortably oversubscribed order book for its €1.5bn seven year covered bond on Monday, illustrating the market’s sweet-spots for tenor, name and jurisdiction. -
The board of Oslo Børs VPS Holding, the Norwegian exchange group, on Friday said that it would consider alternative bids to acquire it, after Euronext outlined terms for a potential acquisition.
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Public sector agencies from the Nordic region are adapting to S&P Global Ratings’ overhaul of its rating methodology. So far, only KommuneKredit has been downgraded under the new rating criteria, but others could suffer similar fates.
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Ice Group, the Norwegian mobile phone company, on Thursday called off its second attempt to list on the main board of the Oslo Stock Exchange, blaming turbulence in global equity markets.
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Trade body the Futures Industry Association (FIA) on Tuesday released recommendations on how to shore up clearing house (CCP) risk management processes in the wake of a €114m member default at Nasdaq Clearing in September.
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Ice Group, the Norwegian telecoms company, hit the road with a Nkr3bn ($351.4m) Oslo Bors IPO on Tuesday, which it hopes will give it the funds to break the country’s telecoms duopoly.
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Kongsberg Gruppen, a Norwegian supplier of technology systems to the offshore oil and gas sector, has finished a Nkr5bn (€513m) rights issue with a healthy level of oversubscription.
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Ice Group, a Norwegian provider of wireless telecommunications, has begun pre-marketing for an IPO on the main board of the Oslo Stock Exchange.
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DNB Boligkreditt took the opportunity on Wednesday to pre-fund as the start of next year is expected to be volatile. The DNB Bank subsiduary issued one of the largest five year covered bonds of 2018. Despite its large size, the deal was priced with a tight new issue concession.
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A global equity sell-off mid-week caused some jitters among bankers covering a live Kommunalbanken dollar deal on Wednesday, but the nervousness proved unfounded as the trade came through to acclaim. The deal was typical in a week where SSAs priced tight and with big books despite choppy wider markets.
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Kommunalbanken showed “the resilience of the dollar SSA market” as it printed a $1.5bn October 2021 Reg S/144A benchmark around its secondary level amid global market volatility on Thursday, said SSA bankers away from the deal.
