Posts Tagged ‘ Denmark ’

RD cuts ARMs auction size citing dissatisfaction with quality of bidding

Nov 20th, 2015
Realkredit Danmark image

Realkredit Danmark (RD) took the unprecedented step of cutting a three year covered bond auction from Dkr2.72bn to Dkr1.90bn (Eu255m) on Wednesday, citing dissatisfaction with orders for the sale, although the bulk of the week’s issuance was relatively smooth.



Nykredit Realkredit sells Eu800m Tier 2 into reopened market

Nov 13th, 2015
Nykredit image

Nykredit Realkredit attracted more than Eu2bn of demand for a Eu800m 12 year non-call seven Tier 2 issue on Tuesday, taking advantage of the reopening of the subordinated debt market after having announced its third quarter results last week.



Danske Q3 disappoints, but FY15 target maintained

Oct 30th, 2015
Danske EntranceAPP

Danske Bank announced third quarter pre-tax profits of Dkr4.7bn (Eu630m) yesterday (Thursday), 9% below consensus expectations on the back of negative interest rates in Denmark and low activity, although the bank maintained its net profit guidance for the full year.



Berg joins Danish FSA as director general

Oct 2nd, 2015
Jesper Berg

Jesper Berg joined the Danish FSA (Finanstilsynet) from Nykredit yesterday (Thursday) as its new director general.



Rare Danica Eu500m sub amid elevated insurance levels

Sep 25th, 2015
Danske

Danske life insurance subsidiary Danica launched its first new bond issue since 2006 on Monday, a Eu500m (Dkr3.73bn) 30 year non-call 10 subordinated transaction that sold out at a level reflecting the challenging market conditions prevailing in credit markets this week.



Denmark, Sweden top tier in DBRS covered update

Sep 18th, 2015
DBRS new app

Denmark and Sweden are among six countries where in DBRS’s view covered bonds are a particularly important funding instrument, meaning that issuers from the countries can be eligible for the highest possible uplift from their senior unsecured rating under an updated methodology the rating agency finalised last week.



Danske sells Eu1bn covered, mart withstands heavy supply

Sep 4th, 2015
Danske

Danske Bank launched a Eu1bn (Dkr7.5bn) five year covered bond on Tuesday amid a wave of supply that the market proved more than able to absorb, and further benchmarks are due early next week.



Fives star in healthy ARMs start, size an evolving factor

Aug 21st, 2015
Nykredit image

The latest Danish quarterly sales of bonds to refinance adjustable rate mortgages (ARMs) achieved healthy bid-to-cover ratios after Nykredit Realkredit kicked off activity on Monday, with longer dated paper offering relatively high spreads particularly well bid.



Record RD FRN reflects mortgage, coupon moves

May 22nd, 2015
Realkredit Danmark image

Realkredit Danmark (RD) sold a Dkr42.4bn (Eu5.68bn) 18 month floating rate note – the largest ever FRN in the Danish covered bond market – in auctions from Monday to yesterday (Thursday), with the size reflecting changes in the type of mortgage being taken out and the maturity a debate over negative coupons in Denmark.



S&P considers Nykredit, DLR cuts on BRRD

May 15th, 2015
Nykredit image

Standard & Poor’s on Tuesday placed Nykredit and DLR Kredit on CreditWatch Negative but affirmed its ratings of fellow Danish banks Jyske, Danske and Nordea Bank Danmark, after completing a review relating to the potential withdrawal of government support for the banking sector under the Bank Recovery & Resolution Directive.