With the refinancing of Nordea Kredit Realkreditaktieselskab's adjustable rate mortgages (ARMs) as of 1 October 2016 an electronic auction will be held in August 2016. The ARMs will be refinanced in covered mortgage bonds (SDRO). Nordea Bank Danmark will conduct the auction. +--------------------------+---------------------------------------------------+ |The Auction |The auction will be held in the market for mortgage| | |bonds at NASDAQ Copenhagen. | | |The Dutch (hidden call) auction principle will be | | |applied, implying that where bids exceed the cut | | |-off price, the full amount will be allocated at | | |the cut-off price. Bids made at the cut-off price | | |may be allocated on a pro rata basis. There will be| | |no allocation in respect of bids below the cut-off | | |price. | +--------------------------+---------------------------------------------------+ |Auction period |23 August up to and including 25 August 2016. | +--------------------------+---------------------------------------------------+ |Amount |Final volumes offered and time schedule are | | |expected to be announced in the week 31, 2016. | +--------------------------+---------------------------------------------------+ |Settlement date |3 October 2016. | +--------------------------+---------------------------------------------------+ |Participant |Bids can be made by anyone with an access to the | | |market for mortgage bonds at NASDAQ Copenhagen. | | |Bids can also be made to Nordea Markets. Contact | | |persons are Bjarne Hammeken phone no. +45 3333 1707| | |and Kim Petersen phone no. +45 3333 1644. | +--------------------------+---------------------------------------------------+ For more detailed information please contact Nordea Group Treasury & ALM, Peter Brag phone no. +45 3333 1663 or Finn Nicolaisen phone no. +45 3333 1625. Yours faithfully Nordea Kredit Realkreditaktieselskab
Company Announcement No. 72, 2016 - Auction of covered mortgage bonds in Nordea Kredit Realkreditaktieselskab
| Source: Nordea Kredit Realkreditaktieselskab