Posts Tagged ‘
Denmark ’
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.
Posted in Market
Tags: ARMs, auctions, Danish, Denmark, Nykredit Realkredit, Realkredit Danmark
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.
Posted in Denmark
Tags: covered bond, Danish, Danske Bank, Denmark
Feb 20th, 2015
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.
Posted in Denmark
Tags: AT1, Danish, Denmark, Nykredit
Feb 6th, 2015
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.
Posted in Denmark
Tags: Denmark, Nykredit
Jan 9th, 2015
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.
Posted in Denmark
Tags: Danish, Denmark, EBA, Sweden, Swedish
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.
Posted in Denmark
Tags: Danish, Denmark, IMF
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.
Posted in Denmark
Tags: Danish, Danske Bank, Denmark, Moody's
Nov 28th, 2014
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.
Posted in Denmark
Tags: ARMs, auctions, Danish, Denmark, DLR Kredit, Nykredit Realkredit
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.
Posted in Denmark
Tags: Danish, Danske Bank, Denmark, FRN, senior unsecured
Nov 21st, 2014
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.
Posted in Denmark, Market
Tags: ARMs, auctions, covered bonds, Danish, Denmark, Nordea Kredit, Nykredit Realkredit, Realkredit Danmark