Posts Tagged ‘ Denmark ’

ARMs auctions recover after yields back up on Danish krone nerves

Feb 27th, 2015

The start of the first Danish auction season to include sales of adjustable rate mortgage (ARM) bonds at negative yields was hit by nervousness about the Danish currency and interest rates on Monday, with yields backing up more than 30bp, but levels and bit-to-covers improved from Tuesday onwards.

Danske scores Eu1bn covered hit with first Nordic of 2015

Feb 27th, 2015

Danske Bank tapped into strong demand in the covered bond market this week to launch the first Nordic euro covered bond benchmark of 2015, a Eu1bn (Dkr7.44bn) long five year issue that attracted over Eu1.7bn of orders and achieved pricing flat to its curve.

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
EBA image

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.