Posts Tagged ‘ Denmark ’

Focus on FRNs in run-up to Danish auctions

May 13th, 2016
NykreditNew

Danish mortgage credit institutions have announced their plans for refinancing auctions to be held later this month, with Nykredit kicking off sales on 23 May, and floating rate bonds are in focus amid a trend away from one year ARMs.



Jyske Bank builds in Sweden with SEK1bn Tier 2 return

May 13th, 2016
JyskeFacade_aften300

Denmark’s Jyske Bank sold its first subordinated debt transaction in 10 years yesterday (Thursday), a SEK1bn (€108m, DKK801m) 10NC5 Tier 2 issue, opting for the Swedish krona market because of the flexibility it offers, according to the group’s head of debt IR and capital markets funding.



Stadshypotek set for Finnish pool, with Danish option

Apr 22nd, 2016
Handelsbanken image

Stadshypotek looks set to issue covered bonds backed by a dedicated Finnish residential mortgage cover pool under Swedish legislation, after Moody’s yesterday (Thursday) announced a provisional Aaa rating for such covered bonds, with issuance off a Danish pool also a possibility.



Jyske sells €500m senior fixed debut, SBAB returns

Apr 8th, 2016
JyskeFacade_aften300

Jyske Bank sold a debut €500m fixed rate senior unsecured benchmark bond yesterday (Thursday), and an official at Jyske explained that it had moved away from its previously preferred FRN format because of a changing regulatory environment. SBAB on Monday sold its first fixed rate senior issue in two years.



Danske €1bn senior surprises in investor scramble

Apr 1st, 2016
Danske

Danske attracted over €4bn of demand for a €1bn five year senior unsecured bond that surpassed expectations on Wednesday in an otherwise quiet week, with investors “scrambling” for what a lead banker said may be one of the last offerings of single-A rated senior paper before the onset of blackout periods.



Danske sells $1bn senior, Sparebanken Sør euro covered debut due

Mar 11th, 2016
Danske EntranceAPP

Danske Bank sold a twice-subscribed $1bn five year senior unsecured bond on Monday, with a lead noting it priced close to a recent issue from Swedbank, which is more established in the US market. Sparebanken Sør is expected next week with an inaugural euro benchmark covered bond.



Danske Eu1bn five year covered ‘kick-starts’ pool rejig

Mar 4th, 2016
Danske

Danske Bank sold a Eu1bn five year covered bond on Tuesday that a lead manager said kick-starts more frequent issuance out of the Danish bank’s C pool after changes to the way in which the issuer funds its international mortgage lending with covered bonds.



BRFkredit prepares euro benchmark covered bond debut

Mar 4th, 2016
brfkredit_tulipaner300

BRFkredit is set to launch an inaugural euro benchmark covered bond in a move that an official at the Jyske Bank subsidiary said will reduce its refinancing of Danish krone bonds while taking advantage of funding opportunities in the European market.



Danes widen in line with broader woes, Nykredit plans IPO

Feb 9th, 2016
Nykredit image

Spreads on Danish covered bonds being sold in the latest refinancing auctions widened in early sales in line with the pressures afflicting the broader financial markets, according to market participants, while the announcement last week of a planned Nykredit IPO has also been in focus.



Swedes critical of covered harmonisation, Danes in warning

Jan 8th, 2016
Drapeaux européens devant le Berlaymont

The Association of Swedish Covered Bond issuers (ASCB) has criticised the proposition that harmonisation of covered bond frameworks, as outlined in a European Commission paper, would be beneficial, as market participants responded to the consultation ahead of an originally-scheduled deadline of Wednesday.