Company announcement no. 44, 2021 – Auctions of covered mortgage bonds in Nordea Kredit Realkreditaktieselskab.

In order to refinance CIBOR-based loans as per 1 July 2021 Nordea Kredit will conduct three electronic auctions on 25 May 2021. The refinancing auctions will be performed by Nordea

Danmark, filial af Nordea Bank Abp.

Covered mortgage              DK0002050525 NDACIBOR6OA24RF

                                                DK0002050608 NDACIBOR6GOA24RF

                                                DK0002050798 NDA1,5CFOA31RF
 

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 NDACIBOR6OA24RF bond (ISIN code DK0002050525) and NDACIBOR6GOA24RF bond (ISIN code DK0002050608), which finances respectively Cibor6 and green Cibor6 loans, 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 coupons as per 1 July 2021 are fixed in this way: 6 month CIBOR per 25 June 2021 multiplied by 365/360 plus the margin set at the auction. The interest rate is rounded to two decimals.

                                               The NDA1,5CFOA31RF bond (ISIN code DK0002050798) with an interest rate cap at 1,5%, will be offered at 100.00. 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 2021 is fixed in this way: the average of 6 month CIBOR from the 21 June to 25 June 2021 plus the margin set at the auction. The interest rate is rounded to four decimals.

                                               Investors should note that the margins set at the auctions on 25 May 2021 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 on Tuesday 25 May 2021
 

Rating                                  The offered covered mortgage bonds are rated AAA with Standard & Poor’s.
 

Auction volumes                The expected auction amount and time schedules can be seen in the table on page 4.

                                              Final auction amounts will be published at latest 21 May 2021 at 9.00 am.
  

Additional terms                Nordea Kredit is not obliged to sell the full published amounts at the auctions.

                                              Nordea Kredit may change the planned sales period including postponement or cancellation of the planned sale of bonds.
 

Settlement date                 1 July 2021.

                                             The outstanding amounts at VP Securities will be updated with the auction amounts on 21 May 2021.
 

Participants                       Anyone with access to the auction market for covered bonds at NASDAQ OMX may place a bid.
 

Technical Problems         In case of technical problems bids can be made to Nordea Markets. Please contact either Brian Christophersen at +45 33 33 16 93 or Jacob Revsbech at +45 33 33 16 43.
 

Spot settlement                 Investors have the option of receiving new covered mortgage bonds allocated at the auction with spot settlement provided that the investor delivers maturing Cibor Nordea Kredit covered mortgage bonds to Nordea Bank Abp. This exchange of bonds can be arranged by contacting Peter Brag or Lau Kingo.
 

In connection with the refinancing 1 July 2021 we will stop issuing new loan offers based on NDACIBOR6OA23RF bond (ISIN code DK0002044478) and NDACIBOR6GOA22RF bond (ISIN code DK0002046689), after which the loan offers will be made in the new ISIN codes.

Questions in connection with the auctions may be directed to Nordea, Long Term Funding, Peter Brag at +45 33 33 16 63 and Lau Kingo at +45 33 33 17 51.
 

Kind regardsNordea Kredit Realkreditaktieselskab
 

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