Refinancing of adjustable-rate mortgage loans in social housing

The Ministry of Housing, Urban and Rural Affairs decides in detail which types of loans will be used for

the refinancing of adjustable-rate mortgage loans in social housing, cf. the Act on Social Housing (almenboligloven).

At the end of the first quarter of 2013, the total refinancing of adjustable-rate mortgage loans in social

housing amounts to approximately DKK 8.3 billion.

Loans worth approximately DKK 0.5 billion will be changed to fixed-rate mortgage loans with unchanged

maturity.

The remaining loans will be refinanced with mortgage bonds worth around DKK 7.8 billion issued in

the 5-year maturity segment. This means that loans worth DKK 7.8 billion will be changed from a 1-

year interest fixing period to a 5-year interest fixing period.

Yours sincerely

Lise Nielsen

Head of Division