Indeed, in addition to the local currencies and distinct national rivalries, the state of development of local capital markets in Denmark, Finland, Norway and Sweden is also vastly different too.
Daniel Sachs, chief executive of Stockholm-based Proventus Capital Partners, a private investment firm that provides loans to and buys the bonds of mid-sized companies in the region and beyond, neatly describes the differences in the local Nordic capital markets when he says: “Norway has by far the most developed high-yield bond market; Sweden has the most developed stock market; and Denmark has the most developed mortgage bond market.
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