BRFkredit extends joint funding model to Ringkjøbing Landbobank

Ringkjøbing Landbobank has entered into a joint funding arrangement with BRFkredit whereby the mortgage bank will finance the regional bank’s real estate loans through SDOs.

BRFkredit already has similar agreements in place with Jyske Bank, Sydbank and Arbejdernes Landsbank.

“We have signed an interesting agreement with Ringkjøbing Landbobank,” said Sven Blomberg, BRFkredit CEO. “There is a great interest in BRFkredit’s actions on joint funding in the market, and the agreement with Ringkjøbing Landbobank strengthens BRFkredit’s joint funding concept further.”

The joint funding model has been approved by the Danish FSA.

“The agreement will secure Ringkjøbing Landbobank competitive access to long-term funding of real estate loans provided by the bank via BRFkredit’s AAA-rated covered bond issues,” said Ringkjøbing Landbobank.

The banks are also entering into an agreement on the provision of mortgage loans for commercial properties.