BRFkredit, Nordea Kredit and Realkredit Danmark finished the latest round of sales to refinance ARM bonds last Friday (29 November), with analysts noting that spreads were the lowest since before the crisis and that Nordea achieved the lowest absolute yield ever at an auction.

Nykredit Realkredit is a week into its auctions and had by this (Thursday) morning allotted nearly 60% of the Danish krone bonds on offer and around 86% of a small supply of euro floaters.