The Nykredit Group will conduct auctions in the period from Monday 18 August to Friday 29 August 2014. The auctions will comprise refinancing of DKK-denominated adjustable-rate mortgages ("Tilpasningslån") as well as refinancing of Cibor- and Euribor- linked loans.
The Nykredit Group currently expects to sell bonds totalling DKK 92bn. The major amounts are listed below:
• 1-year SDO’s in DKK: DKK 72bn
• 3-year SDO’s in DKK: DKK 7bn
• Cibor3 SDO’s in DKK: DKK 8bn
The auction schedule is provided below. Detailed information will be published at a later date.
Time schedule
| Auction type | Period | Auction times – CET |
| Interest rate adjustment based on auction prices | 18 August – 29 August |
First auction: Bidding until 10:30/allotment at 10:40 Second auction: Bidding until 11:30/allotment at 11:40 |
| Floating-rate bonds | 19 August – 22 August | First auction: Bidding until 13:00/allotment at 13:10 |
SDO or RO funding
At the auctions, the mortgage covered bonds "særligt dækkede obligationer" (SDOs) and "realkreditobligationer" (ROs) will be offered. The guidelines for the choice of bond type are:
• All existing loans funded by SDOs will be refinanced by SDOs in Capital Centre H.
• All existing loans funded by ROs in Capital Centre D will be refinanced by ROs in Capital Centre D.
Preliminary amounts
As in previous years, the auction amounts for refinancing will be affected by prepayments and refinancing changes. Accordingly, the final auction amounts may differ from the expected amounts.
Expected auction amounts will be announced in detail at the beginning of August. Subsequently, the expected auction amounts will be updated on an ongoing basis at nykredit.com/ir.
Contacts
Questions relating to the bond sale and technical matters may be addressed to Christian Mauritzen, Group Treasury, tel +45 44 55 10 14.
Other enquiries may be addressed to Trine Ahrenkiel, Head of Corporate Communications, tel +45 44 55 14 70.
