Sales of bonds for the refinancing of adjustable rate mortgage loans

| Source: Jyske Realkredit A/S Jyske Realkredit A/S

To NASDAQ OMX Copenhagen and the Press
29th August 2011
Announcement no. 79/2011
 

Sales of bonds for the refinancing of adjustable rate mortgage loans

From 5th September 2011 to 9th September 2011 (inclusive), BRFkredit will sell non-callable bullet bonds (RTL bonds) to refinance adjustable rate mortgage loans. The amount of bonds to be offered is expected to be DKK 9 – 9.5 bn.

The bonds are offered for sale with 3rd October 2011 as settlement date. However, an earlier settlement date can be arranged.

BRFkredit will carry out the bond sales as ordinary sales on NASDAQ OMX Copenhagen. BRFkredit is not obliged to offer or sell any specific amount on any specific dates. It is, however, the intention of BRFkredit to distribute the sale evenly throughout the period. Post-trade information will be disclosed through NASDAQ OMX Copenhagen.

The refinancing and interest rate adjustments are generally going to be based on covered bonds (SDOs), but for certain segments, the interest rate adjustment will be funded by mortgage bonds (ROs).

BRFkredit’s daily bond sales in relation to the disbursement of new mortgage loans, purchases of bonds in relation to redemption of existing mortgage loans and purchases for the investment of surplus liquidity will be executed in parallel with the above mentioned sales.

The below mentioned bonds are expected to be offered during the period:

ISIN Bond Currency Expected offered amount
DK0009372310 (SDO) 2% 321.E.ok. 2012 DKK 7.8 bn.
DK0009372583 (SDO) 2% 321.E.ok. 2013 DKK 0.2 bn.
DK0009373045 (RO) 2% 321.B.ok. 2012 DKK 1.1 bn.

Please note that the above mentioned amounts may change as customers in BRFkredit with adjustable-rate loans that are up for refinancing on 1st October 2011 during the period up to and including 31st  August 2011, can make choices in relation to existing adjustable-rate loans, including changing the fixed rate period.  

In case of technical questions regarding the bond sales please contact:

  • Head of Investments, André Hauberg on telephone (+45) 45 26 29 18
  • Group Treasurer, Anders Lund Hansen on telephone (+45) 45 26 22 80
  • Investor Relations, Officer Helle Bendorff on telephone (+45) 45 26 25 51

Other questions please contact:

  • Chief Economist, Assistant Vice President Ulrikke Ekelund on telephone (+45) 45 26 22 57


Yours sincerely
BRFkredit a/s

Lars Waalen Sandberg
Senior Vice President



Please observe that the Danish version of this announcement prevails.