Company Announcement No. 97, 2016 - Auction of covered mortgage bonds in Nordea Kredit Realkreditaktieselskab
With the refinancing of Nordea Kredit Realkreditaktieselskab's adjustable rate mortgages (ARMs) as of 1 January 2017 an electronic auction will be held in November 2016.
The ARMs will be refinanced in covered mortgage bonds (SDRO). Nordea Bank Danmark will conduct the auction.
| The Auction | The auction will be held in the market for mortgage bonds at NASDAQ Copenhagen. |
| The Dutch (hidden call) auction principle will be applied, implying that where bids exceed the cut-off price, the full amount will be allocated at the cut-off price. Bids made at the cut-off price may be allocated on a pro rata basis. There will be no allocation in respect of bids below the cut-off price. | |
| Auction period |
22 November up to and including 24 November 2016. |
| Amount | Final volumes offered and time schedule are expected to be announced in the week 44, 2016. |
| Settlement date | 2 January 2017. |
| Participant | Bids can be made by anyone with an access to the market for mortgage bonds at NASDAQ Copenhagen. |
| Bids can also be made to Nordea Markets. Contact persons are Bjarne Hammeken phone no. +45 3333 1707 and Kim Petersen phone no. +45 3333 1644. |
For more detailed information please contact Nordea Group Treasury & ALM, Peter Brag phone no. +45 3333 1663 or Finn Nicolaisen phone no. +45 3333 1625.
Yours faithfully
Nordea Kredit Realkreditaktieselskab
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