Eika Boligkreditt will next Thursday embark upon a European investor roadshow ahead of a possible euro benchmark covered bond issue, after having announced a mandate yesterday (Thursday), with other Nordic credits considered candidates for issuance in the meantime.

The Norwegian issuer will hold investor meetings from 8 to 13 October, after which it may launch its first euro benchmark covered bond of the year. Deutsche, Natixis, Nordea and UniCredit have been mandated.

Eika’s most recent euro benchmark issue came in March 2014, when it sold a Eu500m seven year issue.

A syndicate official at one of Eika’s leads said that secondary flows in non-CBPP3 eligible paper had this week picked up, including for the Nordics, demonstrating appetite from real money investors after spreads had widened substantially.

“That is encouraging,” he said.

Syndicate officials away from Eika’s leads said other Nordic issuers were also considering new issues.

“We know there is a Nordic pipeline out there,” said one. “There are a couple of issuers in discussions that might still be looking to come to market.”