SpareBank 1 Boligkreditt priced a $1bn five year deal yesterday (Wednesday) after choosing the US dollar market over euros for its first benchmark covered bond of the year to capture momentum from a recent roadshow in the US, while a French issuer is also said to be eyeing dollars.

Eivind Hegelstad, COO and head of investor relations at SpareBank 1 Boligkreditt, spoke to The Covered Bond Report’s Neil Day about the bank’s plans for 2013, its high profile in the US dollar market, and whether or not the Norwegian regulator is right on asset encumbrance.

SpareBank 1 Boligkreditt sold a Eu1bn five and a half year deal on Monday as covered bond issuers this week took advantage of spreads on core paper tightening towards pre-crisis levels.