Posts Tagged ‘ Norwegian ’

SR-Bank to debut locally in covered soon in shift from SpaBol

May 15th, 2015
SpareBank_1_SR_Bank

SpareBank 1 SR-Bank is planning a debut, domestic covered bond through new 100% subsidiary SR-Boligkreditt later this month or early June ahead of potential international issuance, as it shifts away from SpareBank 1 Boligkreditt (SpaBol) to optimise funding and for regulatory reasons.



Sparebanken Vest gets tight in covered, eyes more euros

Apr 24th, 2015
Sparebanken_Vest_App

Sparebanken Vest Boligkreditt on Wednesday sold the first Norwegian euro benchmark covered bond of the year, a Eu500m seven year that achieved tighter pricing than some market participants had expected, and an official at the Norwegian issuer said it may become a more frequent visitor to euros.



Santander Consumer Bank Nordic returns to sell Eu750m

Apr 10th, 2015
Santander signage

Santander Consumer Bank Nordic on Wednesday attracted Eu2bn of demand for a Eu750m (Nkr6.50bn) three year senior unsecured benchmark, allowing the issuer to price at the tight end of guidance while enlarging the deal to its maximum targeted size, according to an official at the issuer.



Norwegian covered bonds and oil prices: cause for concern?

Jan 16th, 2015

Lately some investors have become a little concerned about Canadian and Norwegian covered bonds on the back of the major oil price drop of the last few months, write Crédit Agricole CIB covered bond analysts Florian Eichert and Stephan Dorner. 



New Norwegian act to tweak Boligkreditt insolvency treatment

Nov 28th, 2014
Bahr_Building_Tjuvholmen_App

A new Norwegian Act on Financial Institutions being considered by parliament will amend the country’s covered bond framework so that covered bond issuers are treated the same as banks in the event of insolvency, and will also repeal Norway’s securitisation law.



DNB builds on bank bid with new Eu500m 2021 floater

Nov 14th, 2014
DNB image

DNB Boligkreditt sold a Eu500m (Nkr4.23bn) seven year floating rate covered bond last Friday (7 November), building on reverse enquiries to open a new FRN maturity after having tapped a five year through 2014.



SpareBank 1 members set up supplementary issuers, SpaBol still key

Oct 31st, 2014
SpareBank 1

Members of the SpareBank 1 alliance in Norway are setting up their own covered bond issuers as a back-up to SpareBank 1 Boligkreditt (SpaBol) because of large exposure limit regulation.



Eika covered bonds upgraded from Aa2 to Aa1 by Moody’s

Oct 24th, 2014
Eika Boligkreditt_200

Moody’s upgraded Eika Boligkreditt mortgage covered bonds from Aa2 to Aa1 on Thursday of last week.



Sør Boligkreditt covered payment delay has ‘no credit impact’

Oct 10th, 2014
Sparebanken_Sør_Arendal

A brief payment delay on a covered bond from Norway’s Sør Boligkreditt that matured last month and which was due to an operational error has no credit impact and is extremely unlikely to happen again, according to Moody’s, which rates the issuer’s covered bonds Aaa.



Delayed Sparebanken Sør maturity payment on covered bond ‘technical’

Oct 2nd, 2014
Sparebanken_Sør_Arendal

Payment on a Nkr30m (Eu3.66m) maturing covered bond of Sør Boligkreditt, the issuer of Norway’s Sparebanken Sør, was delayed by three days over last weekend because an amendment to the structure three years ago was not correctly registered in a payment system, according to an official at the issuer.