Company announcement no. 52, 2022 – Auctions of covered mortgage bonds in Nordea Kredit Realkreditaktieselskab.
In order to refinance “Kort rente” (CITA-based) and CIBOR-based loans as per 1 July 2022 Nordea Kredit will conduct three electronic auctions on 23 and 24 May 2022. The refinancing auctions will be performed by Nordea Danmark, filial af Nordea Bank Abp.
Covered mortgage DK0002054006 NDACIT6OAJA26
DK0002054196 NDACIB6OAJU25
DK0002054279 NDACIB6GOAJU26 (Green Bond)
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 NDACIT6OAJA26 bond (ISIN code DK0002054006) 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 2022 is fixed in this way: 6 month CITA per 27 June 2022 multiplied by 365/360 plus the margin set at the auction. The interest rate is rounded to two decimals.
The NDACIB6OAJU25 bond (ISIN code DK0002054196) and NDACIB6GOAJU26 green bond (ISIN code DK0002054279), 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 27 June 2022 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 23 and 24 May 2022 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
DK0002054006 NDACIT6OAJA26 on Monday 23 May 2022
DK0002054196 NDACIB6OAJU25 on Tuesday 24 May 2022
DK0002054279 NDACIB6GOAJU26 on Tuesday 24 May 2022
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 in the pdf file attached.
Final auction amounts will be published at latest 20 May 2022 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 2022.
The outstanding amounts at VP Securities will be updated with the auction amounts on 20 May 2022.
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 Cita or Cibor Nordea Kredit covered mortgage bonds to Nordea Bank Abp. This exchange of bonds can be arranged by contacting Peter Brag or Arni Karstin Bjarnason.
Questions in connection with the auctions may be directed to Nordea, Long Term Funding, Peter Brag at +45 33 33 16 63 and Arni Karstin Bjarnason at +45 33 33 18 21.
Kind regards
Nordea Kredit Realkreditaktieselskab
Tags: