SpareBank 1 SMN paid up to sell an inaugural fixed rate euro senior unsecured transaction last Thursday (14 February), but hopes that the spread between it and its Norwegian peers will narrow over time after an encouraging investor reception, said an official at the issuer.

SpareBank 1 SMN today (Thursday) emerged with a senior unsecured transaction that it had been targeting since at least October, when it went on the first of two roadshows, while Stadshypotek priced the first Nordic sterling covered bond on Monday.

Norway’s SpareBank 1 SR Bank sold the first public Nordic euro senior unsecured issue of the year on Monday, a Eu500m seven year deal that is the issuer’s longest benchmark in euros, and SpareBank 1 SMN has announced a roadshow mandate.