SpareBank Plans Euro Benchmark Covered-Bond Issue

15th Jun 2010 10:48

LONDON (Dow Jones)--Norway's SpareBank 1 Boligkreditt AS is planning a euro-denominated, benchmark-sized covered bond, one of the banks working on the deal said Tuesday. Barclays PLC, Credit Suisse Group, Danske Bank, UniCredit SpA, and Societe Generale SA are joint lead-managers on the deal. The issue, which is expected to be rated Aaa by Moody's Investors Service Inc. and AAA by Fitch Ratings, will be backed by prime Norwegian residential mortgages, the bank said. -By Ainsley Thomson, Dow Jones Newswires; 44 20 7842 9318; [email protected] (END) Dow Jones Newswires June 15, 2010 05:48 ET (09:48 GMT)