Nykredit satisfied after issuing Eu500m AT1 debut into busy mart

Feb 20th, 2015
Nykredit image

Nykredit sold a debut Additional Tier 1 transaction yesterday (Thursday), a Eu500m (Dkr3.72bn) 6.25% perpetual non-call 5.7 deal that an official at the Danish issuer said achieved a satisfactory result for an inaugural transaction.

Danish working group to tackle negative rates as some suspend ARMs

Feb 6th, 2015
Nykredit image

The Danish Ministry of Business & Growth has established a working group to quickly recommend how negative interest rates should be handled by the country’s mortgage lenders in the wake of a series of cuts by the Danish central bank.

FI plans partial waiver to avoid concentration after EBA endorses Danes

Jan 9th, 2015
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The Swedish FSA is implementing a partial waiver from the application of CRR covered bond requirements that could cause concentration risk after the European Banking Authority agreed that a similar move in Denmark is justified.

IMF recognises Danish moves, but calls for more

Dec 19th, 2014

A drop in confidence in Danish covered bonds was one of four downside risks highlighted by the International Monetary Fund (IMF) upon the conclusion of its latest report on the Danish economy last week, although the supranational body acknowledged progress being made by the authorities in tackling the area.

Moody’s upgrades Danske to A3, highlights improved profitability

Dec 4th, 2014

Moody’s upgraded Danske Bank from Baa1 to A3 last week, citing as the main driver continued improvement in the Danish bank’s profitability, with reduced refinancing risk in its mortgage credit operations another factor.

Danish spreads, bids recover as auctions close

Nov 28th, 2014
DLR image

Spreads on Danish one year ARM bonds recovered in auctions in the first half of this week after having widened sharply last week, with bid-to-cover levels also improving, as Nykredit and BRFkredit finished their sales, while DLR Kredit only has one day left.

Danske wraps up 2014 funding in Eu1bn FRN

Nov 21st, 2014

Danske Bank sold a Eu1bn four year senior unsecured floating rate note at Euribor plus 38bp on Wednesday of last week (12 November) to complete its funding target for 2014.

‘Turmoil’ in Danish auctions as ARMs spreads widen sharply

Nov 21st, 2014
Realkredit Danmark image

Spreads on Danish one year ARM bonds widened by up to 10bp over the first three days of the latest refinancing auction season this week and bid-to-cover ratios hit lows, despite a sharp fall in supply, with market participants struggling to remember such turbulent conditions and understand the moves.

Nykredit halves one year ARMs for auctions, builds up euro FRNs

Nov 14th, 2014

Nykredit Realkredit has halved the amount of one year ARMs bonds it is selling when it kicks off the latest Danish auction season on Monday from Dkr74bn to Dkr37bn (Eu4.97bn) as its customers move towards longer dated mortgage products, and is building up euro FRNs in connection with this.

Danske raises forecast, Sydbank, Jyske report

Oct 31st, 2014

Danske Bank made pre-tax profits of Dkr4.5bn (Eu605m) in the third quarter, 6% ahead of consensus expectations, and raised its outlook for the full year from Dkr10bn-Dkr13bn to Dkr11.5bn-Dkr13.5bn.