Foreign Investors Find Rich Pickings in Nordics’ Niche Credits

For much of the past two decades, Europe’s northernmost countries have largely been considered a backwater in the corporate debt world. A recent influx of international investors has started to chip away at that image.

Foreigners have been drawn by the market’s increased issuance volumes as more companies test out the relatively hassle-free approach to issuing high-yield debt in Norway, Sweden and Denmark. Half of the investors who have taken part in bond sales under local Nordic laws this year came from outside of the region, compared with around a quarter in 2023, according to data from Arctic Securities.

“The ...