Peter Engberg Jensen, group chief executive at Nykredit, spoke to Nordic Financial Institutions & Covered about regulatory challenges, Junior Covered Bonds, and the Danish banking system.
DLR Kredit reported a 63% growth in pre-tax profit in 2012, driven by higher administration fees on its portfolio and declining provisions for loans, according to an official at the issuer.
Nordea Kredit wrapped up its latest ARM bond refinancings today (Thursday), achieving slightly tighter levels than expected, according to one analyst, while Nykredit Realkredit is four days into one of its largest auction seasons.
Nykredit Realkredit is planning a benchmark euro Junior Covered Bond later this year and Nykredit Bank a benchmark euro senior unsecured bond, although issuance of the two instruments is likely to be lower this year than last, officials at the two arms of the Nykredit group said yesterday (Wednesday).
Moody’s said last week that the demise of Sparekassen Lolland is credit negative for Danish banks, but an official at Jyske Bank, which is taking over the regional savings bank, said that the rating agency’s view is backwards looking and that the takeover sends a positive signal.
BRFkredit attracted some Eu875m of demand last Thursday (24 January) for a Eu500m five year senior unsecured deal, which is its inaugural transaction off a new Eu4bn EMTN programme.
Anders Lund Hansen, group treasurer at BRFkredit, spoke to The Covered Bond Report’s Neil Day about the issuer’s plans for an inaugural senior unsecured trade off a new EMTN programme.
DLR Kredit wrapped up the 2012 year-end refinancing auction season for Denmark’s mortgage banks on Monday after Nykredit finished its sales last Thursday, with the issuers reporting that the auctions resulted in record low rates for borrowers.
BRFkredit is planning to launch a Eu500m senior deal early next year after having set up a Eu4bn EMTN programme, and the Danish issuer’s group treasurer told The Covered Bond Report that the inaugural issue could be a Section 33e senior secured deal.
DLR Kredit cut its ties with Moody’s on Monday, a move that it had planned for some time and was able to implement after its General Capital Centre was rated by S&P last week, and the issuer believes having triple-A ratings in place is having a beneficial impact on its December auctions.