Norway
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Shares in BW Offshore, one of the world’s largest operators of floating oil production and storage vessels, traded up in Oslo on Monday after the company completed its Nkr847m ($101m) rights issue.
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Norwegian gas and oil shipping and storage company Stolt-Nielsen has agreed $325m of new debt arrangements with three of its relationship banks to fund the purchase of Jo Tankers' chemical tanker operations. -
Shares in BW Offshore, the Norwegian floating oil storage vessel owner and operator, have fallen 69% after its shares began trading ex-rights on Wednesday, ahead of its $100m rights issue.
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Bank investors of Norwegian and Swedish covered bonds will be obliged to hold more capital against their investments from next week. Though this is likely to have implications for a considerable number of noteholders, the absolute change is small and is unlikely to affect demand, said analysts at Danske Bank research.
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Norwegian renewable energy firm Statkraft has signed a Nkr11bn (€1.2bn) five year revolving credit facility with a group of banks.
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An auction this month to settle 2014-form credit default swaps referencing Norske Skog will comprise separate auctions for all four maturity buckets, the International Swaps and Derivatives Association’s EMEA Determinations Committee (DC) has confirmed, but 2003 updated contracts will only be settled in the shortest dated of these auctions.
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AP Møller-Mærsk, the Danish shipping and oil company, revived its Norwegian krone bond funding on Monday with a three tranche deal that attracted much more demand than expected, growing to Nkr5.2bn (€558m).
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The response to some of this week’s dollar deals has got some bankers believing that next week’s US Federal Reserve meeting might not prove to be the market shutting millstone that it had promised to be just a few weeks ago.
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Kommunalbanken on Thursday sold its largest floating rate note ever — and the largest floater from an SSA since early March — as bankers away from the trade said the “stars aligned” for the issuer.
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Shares in B2 Holding, the Norwegian consumer debt collection company, have held steady after it concluded its Nkr650m ($80m) IPO in Oslo to fuel growth in its existing markets.
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A pair of public sector borrowers are lining up to sell dollar floating rate notes on Thursday, following a series of floating and fixed rate deals in the currency on Wednesday.
