Danske Bank Arranges Subordinated Bond Loan for TK Development A/S

COPENHAGEN, DENMARK


COPENHAGEN, Denmark, Nov. 28, 2001 (PRIMEZONE) -- Danske Bank (CSE:DDB). Stock Exchange Announcement No. 42/2001.

With reference to the stock exchange announcement published by TK Development A/S on November 7, 2001, TK Development now refinances a bond loan previously issued (ID code: DK000343242-5) through an offer to redeem the bonds previously issued and the issuance of a new bond loan in the form of subordinated capital in the amount of DKr550 million.

Current investors may subscribe for new bonds from November 28 to December 7, 2001. The terms and conditions regulating the subscription will be sent through the Danish Securities Center to the bondholders' authorized institutions.

The new bond loan is a bullet loan to be issued on December 10, 2001, and paid on December 13, 2001. The bonds will expire on December 13, 2006. The coupon of the new loan will be fixed on December 10, 2001, and it will be published through the Copenhagen Stock Exchange A/S. Danske Bank has arranged the loan.

Danske Bank will acquire bonds not subscribed for, if any, for resale.

The bond loan, which is registered at the Danish Securities Center, will be put forward for a listing on the Copenhagen Stock Exchange commencing on December 21, 2001.

Prospectus with additional information is available on request from Danske Bank as from December 13, 2001.



        

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