The Primary Issuance of Norwegian High-Yield Corporate Bonds During Financial Turmoil Spotlight on the COVID-19 Crisis
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- Master of Science 
In this thesis, we study different factors that might have caused the massive increase in the primary issuance of Norwegian high-yield corporate bonds during the most recent financial turmoil, the COVID-19 crisis during 2020 and 2021. To deepen our understanding of how these factors might influence the issuance volume during crises, we include the two other most recent crises, the oil crisis from 2014 and the global financial crisis from 2008. We found that, historically, economic crises both positively and negatively affected the amount and size of issuance of Norwegian high-yield corporate bonds, especially within sectors such as shipping and supply during the oil crisis, and TMT during COVID-19. For the financial crisis we found zero significant values, and therefore we did not draw any conclusion. None of our included factors was seen to affect the issuance of high-yield bonds significantly and positively. Therefore, we recommend further research on this topic, preferably with a larger data set and other variables, to be performed.
Masteroppgave(MSc) in Master of Science in Finance/(Financial Economics) - Handelshøyskolen BI,2022