Norwegian Sets up Shop in Rio

Norwegian bank DNB has opened an office in Rio de Janeiro, it says, to be led by Arne Christian Haukeland. The bank has had a presence there since 1968, but decided to establish an office to better meet customer needs, which include offshore and energy advising. DNB has already participated in several deals in the region, notably as joint lead on a $500m 3-year bond for OSX sold in the Norwegian market in March. It also was a lender to a 3-year $180m credit facility for Transelec in August.