Norway
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Norwegian debt collector B2Holding has narrowed the price range for its IPO to between Nkr11.50 and Nkr12 a share.
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An auction this month to settle credit default swaps referencing Norske Skog will produce wildly divergent recoveries for investors at different maturities, terms published by the International Swaps and Derivatives Association (ISDA) have confirmed. -
After a slow start to the week, a torrent of covered bonds was priced on Wednesday and Thursday, as issuers sought to move quickly in case the market succumbs to one of many potential political risks it faces this month.
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Siem Industries, a Cayman Islands-based holding company with diverse interests, issued on Thursday its third exchangeable bond into shares of Subsea 7, the underwater construction company listed in Oslo.
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An auction to settle Norske Skog credit default swaps will take place in June, after ISDA’s determinations ommittee agreed to an initial list of deliverables for the restructuring credit event — despite not having been able to gain access to a crucial document governing the terms of the firm’s guaranteed bonds.
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Norwegian issuer SR Boligkreditt and New Zealand borrower Westpac NZ will both take new euro deals on the road before the end of May, and the UK’s TSB has confirmed covered bonds will form part of its long term funding.
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Plans to settle Norske Skog credit default swaps by auction were still at an impasse on Thursday, after ISDA’s EMEA Determinations Committee was unable to find crucial paperwork despite meeting three times this week.
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A credit event auction to settle Norske Skog credit default swaps is being delayed because ISDA’s EMEA Determinations Committee has been unable to source an intercreditor agreement.
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A pair of SSA borrowers returned to the Norwegian krone market this week for the first time this year, taking advantage of better funding conditions in the market.
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Norwegian Air Shuttle (NAS), the low-cost airline, could become the first Nordic borrower to issue this year in the European high yield bond market.
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Despite the difficult start to the year, global financial exchanges have continued to expand their coverage of world markets with new listed products.
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