In order to refinance Nordea Kredit EURIBOR3-based loans as per 1 January 2019
Nordea Kredit will conduct an electronic auction on 21 November 2018.
Nordea Kredit will refinance the (EURIBOR3-based) loans by issuing a new covered
mortgage bond (SDRO). The refinancing auction will be performed by Nordea Bank.
Covered ISIN: DK0002043231
mortgage bond Name: NDAEURIBOR3 OA22RF
The auction The auction will take place at the auction market at NASDAQ
Copenhagen. The participant code for the offer is NOA.
The bonds will be offered at price 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 January 2019 will be fixed in this way: 3
month EURIBOR per 19 December 2018 multiplied by 365/360 plus
the margin set at the auction. The interest rate is rounded
to two decimals.
Investors should note that the margin set at the auction on
21 November 2018 will apply for the full maturity of the
The auction 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 auction will be fully
allocated. For bids at the margin set at the auction, pro
rata allocation may apply. Bids above the margin set at the
auction will not be allocated.
Auction date The auction will take place on Wednesday 21 November 2018.
Rating The offered covered mortgage bonds are rated Aaa by Moody’s
and AAA by Standard & Poor’s, respectively.
LCR category 2A
Auction EUR 450m. The amount will be issued with VP Securities on 16
volume November 2018
Price The bonds are offered at price 100.20.
Additional Nordea Kredit is not obliged to sell the full offered amount
terms at the auction. Nordea Kredit may change the announced sales
period including postponing or cancelling the scheduled
Bids/Allocation The auction will open at 9 a.m. and close at 13.00 p.m.
Accepted bids will be allocated latest at 13.09 p.m.
Bids must be made for the margin on the reference interest
rate and bids with up to two decimals will be accepted.
Settlement The settlement date is 2 January 2019.
date Investors have the option of receiving the new covered
mortgage bond allocated at the auction with spot settlement
provided that the investor delivers ISIN LU1110205314 to
Nordea Bank. This exchange of bonds can be arranged by
contacting either Peter Brag or Finn Nicolaisen at the day of
the auction no later than 3.00 p.m.
Participants Anyone with access to the auction market at NASDAQ OMX may
place a bid.
In case of technical problems bids may be placed with Nordea
Markets. Please contact Brian Christophersen at phone +45
3333 1693 or Frank Klahsen at phone +45 3333 1444.
If you have questions please contact Nordea, Long Term Funding, Peter Brag at
+45 3333 1663 or Finn Nicolaisen at phone +45 3333 1625.
Nordea Kredit Realkreditaktieselskab