Archive for March 2016
Mar 18th, 2016
Norwegian covered bonds exposed to oil price-sensitive markets will be able to withstand the effects of persistent low prices thanks to sufficient levels of surplus OC, according to Moody’s, with the rating agency also noting that the relevant programmes should prove resilient to a consequent weakening of the Norwegian economy.
Posted in Ratings
Tags: covered bonds, Moody's, Norway, Norwegian, oil, oil prices, ratings
Mar 18th, 2016
Sparebanken Sør Boligkreditt made its euro-denominated covered bond debut on Tuesday – joining the market to meet increased funding needs, according to the issuer’s CEO – and bankers said the Eu500m five year issue positioned the Norwegian issuer well next to its peers.
Posted in Norway
Tags: covered bonds, euros, Norway, Norwegian, Sparebanken Sor, Sparebanken Sor Boligkreditt
Mar 18th, 2016
BRFkredit sold a debut, Eu500m five year covered bond on Wednesday, and plans to return to the euro market in the fourth quarter and establish itself as a frequent issuer therein, with an official at the issuer citing the benefits of diversification away from the Danish market.
Posted in Denmark
Tags: BRFkredit, covered bond, euros, Jyske, Jyske Bank
Mar 11th, 2016
Danske Bank sold a twice-subscribed $1bn five year senior unsecured bond on Monday, with a lead noting it priced close to a recent issue from Swedbank, which is more established in the US market. Sparebanken Sør is expected next week with an inaugural euro benchmark covered bond.
Posted in Market
Tags: covered bond, Danish, Danske Bank, Denmark, euros, Norway, Norwegian, Sparebanken Sor Boligkreditt, US dollars
Mar 4th, 2016
Swedbank sold a Eu400m three year senior unsecured FRN on Wednesday that was priced above par in order to avoid the impact of negative rates, and bankers said it had done well to attract over Eu500m of orders and price the deal with no premium in light of using a still-novel elevated coupon.
Posted in Sweden
Tags: euros, FRN, Negative, senior unsecured, Swedbank, Sweden, Swedish
Mar 4th, 2016
Nordea today (Friday) launched a consent solicitation in respect of covered bonds issued by Nordea Bank Finland, seeking approval for a new demerged entity, Nordea Hypoteksbank, to assume the role of issuer while the Finnish bank is converted into a branch of the Swedish parent.
Posted in Finland
Tags: covered bonds, Finland, Finnish, Nordea Bank Finland, Nordea Hypoteksbank, Nordea Mortgage Bank
Mar 4th, 2016
Norway’s SpareBank 1 Boligkreditt sold a Eu1bn seven year covered bond on Wednesday that was described as “textbook” into a busy euro covered bond market where eight issues totalling Eu6bn were launched this week.
Posted in Norway
Tags: covered bonds, euros, Norway, Norwegian, SpareBank 1 Boligkreditt
Mar 4th, 2016
Danske Bank sold a Eu1bn five year covered bond on Tuesday that a lead manager said kick-starts more frequent issuance out of the Danish bank’s C pool after changes to the way in which the issuer funds its international mortgage lending with covered bonds.
Posted in Market
Tags: covered bonds, Danish, Danske Bank, Denmark
Mar 4th, 2016
BRFkredit is set to launch an inaugural euro benchmark covered bond in a move that an official at the Jyske Bank subsidiary said will reduce its refinancing of Danish krone bonds while taking advantage of funding opportunities in the European market.
Posted in Denmark
Tags: BRFkredit, covered bonds, Danish, Denmark, euros, Jyske Bank