Nykredit Realkredit is planning a roadshow for a senior secured issue that will be its first euro benchmark where the proceeds are being used for covered bond overcollateralisation purposes rather than, as previously, for reasons of CRD compliance.

Danish covered bond legislation has been amended to allow for a broader use of so-called Junior Covered Bonds (JCBs), making them the first financial instrument explicitly designed to satisfy non-statutory OC requirements that essentially stem from rating agency considerations.