DNB Bank
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The Kingdom of Norway hit screens on Tuesday with initial pricing thoughts on its yearly syndicated benchmark. -
The Kingdom of Norway is eyeing the international investor base as it prepares to launch its yearly Norwegian krone bond syndication — a new 10 year benchmark, set to mature in August 2030.
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BW Offshore, the Norwegian operator of floating oil storage vessels, has fixed a price range for the Nkr1.659bn ($187m) listing of its exploration and production unit BW Energy on the Oslo Børs.
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The Norwegian krone bond market is about to get a spurt of corporate deals. Liquid chemical storage company Stolt-Nielsen and energy group Eidsiva Energi have mandated banks to lead bond issues in their domestic currency.
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Mowi, one of the largest seafood companies in the world, issued a €200m green bond this week. The Norwegian fish farmer advertises seafood as an environmentally friendlier and healthier alternative to meat but has also faced claims that it endangers ecosystems with its net-pen salmon farms.
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ABN Amro and Deutsche Bank opened books on new senior deals in the sterling bond market, with bankers recognising that the currency is 'working very well' for international names.
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KfW, the European Investment Bank (EIB) and, in the medium-term note (MTN) market, a German region and a Finnish agency have kicked off the Norwegian krone market for SSAs. Bankers are hoping to extend krone’s impressive form from last year into 2020.
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Norwegian oil exploration and production company Aker BP is positioning itself as an investment grade issuer with a new dual tranche dollar mandate, with a call targeting bond buyers with IG mandates, and an unsecured issue structure. The company received its second IG rating last November.
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DNB Bank made the most of a favourable backdrop in the financial institutions bond market this week, selling a short-dated senior bond in sterling after recent prints in euros and dollars.
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The Kingdom of Norway has sold a chunk of its stake in Entra, the Norwegian real estate development company, via an accelerated bookbuild that attracted more than 200 orders, according to a source close to the transaction.
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Bank Norwegian has mandated a pair of banks to look into a possible Norwegian krone or Swedish krona issuance.
