Determination of interest rate trigger


On 1 April 2014, new rules on the interest rate fixing and refinancing of Danish covered bonds entered into force. According to the new rules, the interest rate of floating-rate bonds cannot be fixed at a level that is more than 5 percentage points higher than the most recently fixed interest rate, and it must remain unchanged for 12 months or until the next refinancing unless a lower interest rate has been fixed before then.

The Nykredit Group has completed the sale of 1-year floating-rate bonds in connection with the refinancing as at 1 July 2015 of floating-rate covered bonds subject to semi-annual interest rate fixing. A new interest rate was fixed for the bonds at end-June.

The interest rate levels that may trigger an extraordinary interest rate fixing in respect of the new floating-rate covered bonds are as follows:
 

 ISIN Interest rate trigger
DK000950661-0 5.2205%
DK000950688-3 5.7594%

  

More information on interest rate triggers is available at nykredit.com. Information on bond sales is available at nykredit.com/ir.
 

Questions may be addressed to Christian Mauritzen, Group Treasury,
tel +45 44 55 10 14, or Corporate Communications, tel +45 44 55 14 50.


Attachments

Determination of interest rate trigger - 01 07 2015.pdf