Nordic Trustee and Stamdata present the 2022 edition of the Nordic Corporate Bond Market Report.
2022 was a challenging year. War in Ukraine, a European wide energy crisis, rapidly rising inflation and interest rates globally put stress on the capital markets. Despite increased volatility, the Nordic corporate bond market proved to be a robust source of capital with low and declining default rates through 2022.
Selected takeaways from the report include:
- The Nordic corporate bond market had a challenging 2022 with an 8% decline in total outstanding volume, reaching EUR 116bn at year end.
- Total Nordic corporate new issue volumes decreased by 56% in 2022, ending the year at EUR 19bn. This is the lowest level since 2016.
- Despite a challenging financial environment, Nordic HY first-time default rates decreased through 2022, ending the year at 0.7%.
- The pricing of Nordic HY bonds was volatile through 2022, but the Nordic HY index closed 2022 with a positive return. Real Estate is the only sector with negative returns in 2022 at -6.1%, while O&G had the strongest sector return at 13.5%.
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The 2022 report highlights the key developments and findings from across the Nordic corporate bond market, including XS ISINs issued in NOK/SEK, leveraging statistics provided by Nordic Trustee, Stamdata, and Nordic Bond Pricing.