Posts Tagged ‘ Realkredit Danmark ’

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.

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.

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.

Record RD FRN reflects mortgage, coupon moves

May 22nd, 2015
Realkredit Danmark image

Realkredit Danmark (RD) sold a Dkr42.4bn (Eu5.68bn) 18 month floating rate note – the largest ever FRN in the Danish covered bond market – in auctions from Monday to yesterday (Thursday), with the size reflecting changes in the type of mortgage being taken out and the maturity a debate over negative coupons in Denmark.

RD Skr4.3bn FRN finds buyers

Mar 20th, 2015
Realkredit Danmark image

Realkredit Danmark sold a Skr4.3bn (Eu465m) three-and-a-half year floating rate note on Tuesday that a syndicate banker at one of the leads said had succeeded in spite of selling pressure in Swedish covered bonds, while a Norwegian krone deal from the issuer imminent.

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.

‘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.

S&P upgrades RD §15 bonds

May 8th, 2014
Realkredit Danmark image

Standard & Poor’s upgraded Realkredit Danmark senior secured issuance yesterday (Wednesday) following its lifting of parent bank Danske’s rating from A- to A Tuesday of last week, which came as part of wide-ranging BRRD-inspired bank rating actions.

RD extends Sweden-targeted covered curve in strong Skr6.2bn

Mar 20th, 2014
Realkredit Danmark image

Realkredit Danmark met with strong demand for its first syndicated sale of a Swedish krona covered bond on Tuesday, a Skr6.2bn (Eu703m, Dkr5.25bn) dual tranche issue that lent more duration to Sweden-targeted Danish issuance, with October 2016 and October 2017 tranches offered.