The Good, the (Not So) Bad and the Ugly- Public Debt Award Europe

Don’t let the title put you off. In discussing the Norwegian bond market, the news is mainly good. According to Nordea’s Norwegian Bond Market Corporate Credit Report, the market not only returned in 2009, it was the second most active year, only surpassed by the record year in 2007. Total corporate issuance was NOK 60.9 billion compared to NOK 14.6 billion in 2008 of which high yield represented 41% in 2009. As of year-end, there were 170 active corporate issuers, 60 were active in the market last year and of these 10 were new entrants.

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