Posts Tagged ‘ Norway ’

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.



Proposed mortgage rules positive for Norwegian covered, says Moody’s

Sep 13th, 2016
finanstilsynet

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.



DNB Eu1.5bn 10s biggest since 2014 in ‘civilised’ covered bond market

Aug 30th, 2016
DNB image

DNB Boligkreditt attracted Eu2bn of orders to a Eu1.5bn 10 year covered bond today (Tuesday) that is the largest euro benchmark in the maturity since 2014 and comes after a slew of long-dated supply.



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.



Storebrand late payment ‘technical’, credit quality ‘unaffected’

Jun 23rd, 2016
Storebrand

Storebrand Boligkreditt repaid a maturing Norwegian krone covered bond two days late last week, according to Moody’s, which said that the payment delay was due to a technical error, is not considered a default, and has not affected the credit quality of the programme.



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.



Norwegian covered bonds resilient to oil exposures, says Moody’s

Mar 18th, 2016
Norway oil web

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.



Sparebanken Sør well positioned after Eu500m debut

Mar 18th, 2016
Sparebanken_Sør_Arendal

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.