OBOS Boligkreditt issued its first covered bonds on Monday, selling two Nkr2bn FRNs while its parent repurchased Nkr2.9bn of senior unsecured debt, and an official at the new Norwegian issuer said it expects “a high growth rate” in the coming years after establishing its name in the market.

Stadshypotek issued its first covered bond out of a Finnish cover pool today (Tuesday), selling a thrice-subscribed Eu500m 10 year issue that progressed smoothly, in contrast with more turbulent conditions in other markets, with NordLB pulling a senior trade amid pressure on European banks.

Tighter mortgage underwriting standards proposed by Norway’s FSA are credit positive for Norwegian covered bonds and banks, Moody’s said yesterday (Monday), highlighting a cap on loan-to-income ratio limits and lower LTV ratios.

A debut, dual tranche DKK1.5bn equivalent AT1 for Jyske Bank on 7 September was more than twice oversubscribed, and comprised the first benchmark Swedish krona AT1 from a non-domestic name, with a Jyske official deeming the result a testament to years of work in the Swedish market.