Norway

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Sbanken Boligkreditt, formally known as Skandiabanken, has said that it expects to take advantage of its newly established Euro Medium Term Note (MTN) programme for long-term funding to begin issuing euro denominated covered bonds.

Schibsted, the Norwegian media group, has raised Nkr2.7bn (€258m) of fresh equity in a block trade, to finance its growth in digital classified advertising. The book was very large, with around 180 investors.

Eika Boligkreditt closed the pricing gap to Norway’s national champion, DNB Boligkreditt, with a €500m seven year covered bond issued on Tuesday. At the same time Finland’s Oma Savings Bank mandated leads to market its inaugural deal.

Eika Boligkreditt has mandated leads for a €500m no-grow seven year, to be launched on Tuesday. The spread between Eika and DNB Boligkreditt is likely to have tightened substantially since the issuer last came to market in April 2016.

Equity capital markets bankers are eyeing with interest the possibility that Norway’s $1tr sovereign wealth fund might sell all its holdings in oil and gas stocks, potentially creating opportunities for block trades or other structured transactions.

Norwegian energy company Statoil agreed to pay $4m to the Commodity Futures Trading Commission (CFTC) on Tuesday, over allegations that the company attempted to manipulate an index to benefit its propane swap positions.

DNB Boligkreditt enjoyed great execution for its €1.5bn seven year covered bond on Thursday, but real money accounts switched out of more expensive deals in good size for the first time in months, suggesting investors have far less inclination to add to positions at prevailing spread levels than was previously the case.

Komplett Bank, the Norwegian consumer lender, priced a Nkr896m sale of shares on Oslo Bors at the top of the initial range, bucking the trend of many recent flotations.

Crayon Group, the Norwegian software management company, had to fight for investors' attention to get its Nkr650m IPO sold, its CEO Torgrim Takle said on Thursday.

Oslo-listed oil and gas exploration firm Aker BP raised Nkr4.1bn ($500m) through an accelerated bookbuild, to fund its acquisition of Hess Norge, the owner of two Norwegian oil fields.

Norwegian financial institution Komplett Bank is looking to place up to Nkr1.03bn ($126.58m) in an initial public offering (IPO), combining primary and secondary placements on the Oslo Stock Exchange (OSE).