Over the last decade, the Nordic bond market has experienced significant growth in terms of volume and number of issuers and has become a viable alternative for issuers across substantially all industry sectors (not only the real estate sector) and varying credit profiles seeking debt financing. At the end of 2019 the total outstanding amount of the Nordic bond market was EUR 1,1122bn, of which EUR 102 billion consisted of corporate bonds (i.e. excluding FIG and public sector issuers) after approximately 9% of growth over the preceding year. The markets in Sweden and Norway are by far the larger among the Nordic countries, although Finland and Denmark have seen increased activity as well.
This June edition of In the Know takes a closer look at how the Nordic bond market has grown over the last decade, discusses the main differences between Nordic bonds and those traditionally associated with Regulation S and Rule 144A, and looks at where the Nordic market is heading.