Norway

SSAs are enjoying strong conditions in dollars, with KfW and the Province of Ontario finding plentiful demand on Wednesday despite bringing deals that on-looking bankers said were “pretty much” in line with secondaries. Kommunalbanken will price a dollar benchmark on Thursday that leads said was following a similar pattern.

SR Boligkreditt issued a €750m seven year with a slim new issue concession showing that the primary covered bond market is still receptive, despite the rates market volatility seen earlier in the week.

Kommunalbanken has delayed its green bond benchmark comeback, following its first Kangaroo issue in the format last month.

Schibsted, the Norwegian media group, has officially kickstarted the process of spinning off its online classified advertising business as an independently listed company, expected in 2019.

Nasdaq Clearing said early on Monday that it had replenished 90% of its member default fund, adding it had “no indication” that a member would shirk on its commitments. The deadline for replenishment is on Monday.

A Norwegian trader lost millions on Wednesday in a bad bet on the German and Nordic power markets, putting other members of Nasdaq Clearing on the hook for €107m in losses. The clearing house withstood the test to its capital buffers, but Nasdaq must be clear about what went wrong and what steps need to be taken to maintain confidence in its systems.

Eika Boligkreditt was more than twice subscribed for its no-grow deal on Tuesday, offering German investors a decent pick-up over both Bunds and Aareal Bank, which also came to the market.

Eika Boligkreditt and Aareal Bank are expected to reopen the covered bond market on Tuesday, after announcing post-summer holiday mandates on Monday. Both are looking to complete seven year deals.

A Credit Suisse DCM managing director has quit the bank to join Deloitte.

Kommunalbanken's sterling tap was the sole deal in the public sector market on Tuesday, following a similar transaction by Bank Nederlandse Gemeenten on Monday.

Bank Nederlandse Gemeenten kept the sterling tap running as the sole deal in the primary SSA market on Monday, with a Norwegian agency lining up to follow it on Tuesday.

Ferd Invest sold a stake in Petroleum Geo-Services, the Norwegian company that provides surface imaging to oil and gas exploration companies, on Monday night after the stock rallied due to higher oil prices over the past 12 months.