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Norway's SWF bought big chunk of maiden EFSF issue
February 4, 2011 / 12:41 PM / 7 years ago

Norway's SWF bought big chunk of maiden EFSF issue

OSLO, Feb 4 (Reuters) - Norway’s $500 billion-plus sovereign wealth fund (NBIM) said it had participated “significantly” in the European Financial Stability Facility’s inaugural 5 billion euro ($6.82 billion) bond issue last month.

The Norwegian fund keeps up to 40 percent of its total assets in bonds, with European fixed income instruments making up about half of its total debt portfolio.

“NBIM (Norges Bank Investment Management) participated in it significantly...We are positive towards the initiative,” an NBIM spokeswoman said, declining to give more precise investment values.

The debut bond from the European financial rescue fund attracted robust demand at the Jan. 25 auction. [ID:nLDE70O267]

NBIM said that the European Financial Stability Facility issue was “attractive” and represented lower risk than some individual sovereign debt because of multi-country involvement.

Reporting by Wojciech Mokswa; Editing by Ron Askew

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