Posts Tagged ‘ Nykredit Realkredit ’

Foreign demand and issuance highlighted amid Danish sales

Aug 26th, 2016
Nykredit image

Bids were strong throughout the latest Danish refinancing auctions, with non-domestic investors in particular finding value, as Nykredit hailed improving recognition of its euro FRNs and Realkredit Danmark priced a Skr4.35bn issue with the slimmest pick-up versus domestic paper in recent years.

Moody’s, S&P attest to Nykredit SRN benefits after second issue

Jul 15th, 2016
Nykredit image

New Nykredit Realkredit “senior resolution notes” (SRNs) are positive for holders of its covered bonds, Moody’s said yesterday (Thursday), after S&P revised its outlook on the issuer from negative to stable and the Danish issuer reopened the euro senior market with its second such deal.

Innovative Nykredit SRN augurs well for Tier 3

Jul 1st, 2016
Nykredit image

Nykredit launched what has been touted as the first Tier 3 instrument in the new bail-in era on 6 June, a Eu500m three year “senior resolution note” that sits between its senior unsecured debt and junior loss-absorbing debt and whose reception was said to augur well for similar forthcoming issuance.

Nykredit ventures longer for syndicated SEK5bn threes

Jun 4th, 2016
Nykredit image

Nykredit sold its first benchmark, syndicated Swedish krona covered bond with a three year maturity on Tuesday, having previously issued shorter dated paper in the Swedish market, and attracted some SEK20bn of orders for a SEK5bn FRN.

Nykredit to cut auctions and ISINs in bid for LCR magic

May 27th, 2016
Nykredit image

Nykredit is planning to cut ARMs auctions from four times to twice a year as part of an initiative aimed at offering fewer but larger lines of covered bonds to meet LCR Level 1B criteria that have affected pricing in the Danish market, where the latest auction season ended solidly.

Focus on FRNs in run-up to Danish auctions

May 13th, 2016

Danish mortgage credit institutions have announced their plans for refinancing auctions to be held later this month, with Nykredit kicking off sales on 23 May, and floating rate bonds are in focus amid a trend away from one year ARMs.

Danes widen in line with broader woes, Nykredit plans IPO

Feb 9th, 2016
Nykredit image

Spreads on Danish covered bonds being sold in the latest refinancing auctions widened in early sales in line with the pressures afflicting the broader financial markets, according to market participants, while the announcement last week of a planned Nykredit IPO has also been in focus.

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.

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.