OBOS sells Nkr4bn debut covered bond, ‘high growth rate’ foreseen

Sep 28th, 2016
OBOS hovedkontorlogoOBOS-logo vårblomsterHammersborg torg 1

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.

Duration bid opens 10s to SpaBol, misreport unheeded

Aug 25th, 2016
SpareBank 1

SpareBank 1 Boligkreditt sold its first 10 year euro benchmark on Tuesday, with the possibility of offering a positive yield at the long end a factor, according to the issuer’s COO, who said erroneous reports on its substitute assets did not affect the Eu1bn deal’s successful outcome.

OBOS set for Q3 krone covered bond debut after loan growth

Aug 5th, 2016
OBOS hovedkontorlogoOBOS-logo vårblomsterHammersborg torg 1

Norway’s OBOS-banken is set to issue a debut Norwegian krone covered bond through a new wholly-owned covered bond issuer in the third quarter, having on Wednesday received a provisional covered bond rating from Moody’s, as it negotiates a split from issuer Eika Boligkreditt.

SR back on track with €750m covered after investor work

Jun 4th, 2016

SR-Boligkredit sold a €750m (NOK6.97bn) long five year issue on Wednesday that bankers, citing a slim new issue premium, described as its best deal to date after a lacklustre result in January, with the new issue having been boosted by a comprehensive roadshow.

DNB and Eika hit targets, with 7s the place to be

Apr 17th, 2016
DNB image

DNB Boligkreditt attracted Eu2.2bn of demand for a Eu1.5bn seven year covered bond on Tuesday, before fellow Norwegian issuer Eika Boligkreditt sold a twice oversubscribed Eu500m seven year on Wednesday, having moved forward its plans to capitalise on strong demand in the seven year part of the curve.

Sparebanken Sør well positioned after Eu500m debut

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.

SpareBank 1 Eu1bn sevens ‘textbook’ in busy euro covered mart

Mar 4th, 2016
SpareBank 1

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.

Vest impresses with well bid Eu500m, cites growing reputation

Feb 26th, 2016

Sparebanken Vest Boligkreditt on Wednesday sold a Eu500m five year covered bond that was twice oversubscribed at the same time as achieving “ambitious” pricing, and an official at the Norwegian issuer said that recognition of the credit is increasing.

Sterling attractive as Nordea Eiendomskreditt sells £400m FRN

Jan 8th, 2016
Nordea Frogner Oslo NNFIC

Nordea Eiendomskreditt attracted £425m of orders for a £400m (€545m) three year floating rate  covered bond on Wednesday, which, alongside similar issues for Lloyds beforehand and Bank of Nova Scotia afterwards, bankers said shows sterling to be an attractive option for issuers.

SpareBank 1 hits sweet spot to build Eu1.7bn book for covered threes

Nov 6th, 2015
SpareBank 1

SpareBank 1 Boligkreditt amassed a book of over Eu1.7bn for a Eu1.5bn three year covered bond yesterday (Thursday) that bankers said showed strong demand for shorter dated paper, with the Norwegian deal standing out amid a slew of five to seven year supply as the equal-largest three year of 2015.