Norway

SR-Bank is lining up its second green bond in four months

Norwegian borrower showed there is plenty of demand if the price is right

Aa1 rated HCOB tightened an “impressive” 4bp on its covered market return this week

The Norwegian automated warehouse company's IPO raised $2.15bn

AutoStore is due to price its IPO at the top of the range after being inundated with demand

Growing Norwegian investor base keen to pick up labelled paper

FIG investors seek out senior preferred in Swedish kronor

Further Norwegian covered bond supply expected from Sparebanken More next week

Norwegian savings bank tends and extends local additional tier one

Private placements are expected to make up the bulk of Swedish covered bond paper throughout the latter half of 2021 and, with the Nordic summer holiday period coming to end, issuance from the region is expected to kick off ahead of the eurozone.

Covered bonds issued this week by SCBC and Bank of New Zealand were thinly oversubscribed and illustrated that investors are still sensitive to price, albeit that demand was good for a small green debut from Eika Boligkreditt and a tap from Oma Savings Bank.

Eika Boligkreditt and Oma Savings Bank found good demand for their covered bonds sold on Tuesday with small deal sizes, environmental appeal and European Central Bank providing a boost. Even so, syndicate bankers were not convinced the market was back to full health.