In order to refinance “Kort rente” (CITA-based) and CIBOR-based loans as per
1
July 2018 Nordea Kredit will conduct two electronic auctions on 22 and 23
May
2018.
Nordea Kredit will refinance both the “Kort rente” (CITA based) and
the CIBOR
-based loans by issuing new covered mortgage bonds (SDRO). The
refinancing
auctions will be performed by Nordea Danmark, filial af Nordea Bank
AB (publ),
Sverige.
Covered DK0002041458
NDACITA6OA23RF
mortgage bonds DK0002041532 NDACIBOR6OA22RF
The auctions
The auctions will take place at the Auction market for covered
bonds at NASDAQ Copenhagen. The participant code for the offer
is NOA.
The NDACITA6OA23RF bond (ISIN-code DK0002041458) will
be
offered at 100.20. Bids should be made for the margin to
be
added to the reference interest rate at the recurring
fixings
of the coupon.
The coupon as per 1
July 2018 is fixed in this way: 6 month
CITA per 26 June
multiplied by 365/360 plus the margin set at
the auction. The
interest rate is rounded to two decimals.
The NDACIBOR6OA22RF
bond (ISIN-code DK0002041532) will be
offered at 100.20. Bids
should be made for the margin to be
added to the reference
interest rate at the recurring fixings
of the coupon.
The coupon as per 1 July 2018 are fixed in this way: 6 month
CIBOR per 26 June multiplied by 365/360 plus the margin set at
the auction. The interest rate is rounded to two decimals.
Investors should note that the margins set at the auctions on
22 and 23 May 2018 will apply for the full maturity of the
bonds.
The auctions will be conducted using the Dutch auction
principle and the “hidden call” auction type. This means that
all bids below the margin set at the auctions will be fully
allocated. For bids at the margin set at the auctions, pro
rata allocation may apply. All bids above the margin set at
the auctions will not be allocated.
Auction dates The auctions will
take place
DK0002041458 NDACITA6OA23RF on Tuesday 22 May 2018
DK0002041532 NDACIBOR6OA22RF on Wednesday 23 May 2018
Rating
The offered covered mortgage bonds are rated Aaa with Moody’s
and AAA with Standard & Poor’s, respectively.
Auction
DK0002041458 NDACITA6OA23RF DKK 22,0 bn
volumes DK0002041532
NDACIBOR6OA22RF DKK 14,8 bn
Additional Nordea Kredit is not obliged to
sell the full published
terms amounts at the auctions.
Nordea Kredit may change the planned sales period including
postponement or cancellation of the planned sale of bonds.
Bids/Allocation The
auctions will open at 10 a.m. and close at 11.30 a.m.
Accepted
bids will be allocated at 11.40 a.m.
Bids must be made for the
margin on the reference interest
rate and bids with up to two
decimals will be accepted.
Settlement 2 July 2018.
date The
circulation amounts at VP Securities will be updated by
the
auction amounts on 18 May 2018.
Participants Anyone with access to the
auction market for covered bonds at
NASDAQ OMX may place a
bid.
In case of technical problems bids may be placed with
Nordea
Markets. Please contact Frank Klahsen at phone +45 33
33 14 44
or Brian Christophersen at phone +45 33 33 16 93.
If
you have further questions please contact Nordea Group Treasury & ALM,
Peter
Brag phone +45 33 33 16 63 or Finn Nicolaisen phone +45 33 33 16
25.
Kind regards
Nordea Kredit Realkreditaktieselskab
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