Eksportfinans Stigma Fades as Kommunalbanken Boosts Bonds
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The flight from Norwegian credits triggered in November by the forced wind-down of Eksportfinans ASA is showing signs of reversing.
Kommunalbanken AS, a municipal Norwegian lender, raised a benchmark U.S. debt sale by 25 percent this week to meet demand. The state-backed bank, also known as KBN, sold $1.25 billion in three-year AAA rated notes yesterday, $250 million more than planned, Chief Executive Officer Petter Skouen said. The 1 percent note sold at 75.1 basis points more than benchmark government yields.