In November/December, the Nykredit Group is to refinance bonds totalling DKK 136bn. This is approximately DKK 25bn less than last year, which reflects that Nyredit has been successful in spreading refinancing auctions more evenly over the year. The purpose of spreading the auctions over the year is to reduce customers' refinancing risk.
The total bond offering consists of DKK 72bn in DKK-denominated fixed-rate bullet bonds (RTLs), DKK 42bn in EUR-denominated RTLs and DKK 22bn in Cibor and Euribor-linked bonds.
The terms of the auctions, ISINs offered, expected amounts offered, auction schedule and other terms of the individual auctions are set out in Appendices 1, 2 and 3.
Again prospect of low mortgage repayments
Once again it seems that mortgage repayments will be at a low level. Nykredit now expects that the monthly net repayment on an adjustable-rate repayment mortgage (ARM) will be some DKK 3,270, which is about DKK 500 less than the historical average since the introduction of ARMs funded by 1-year RTLs.
Questions
Questions relating to the bond sale and technical matters may be addressed to Group Treasury, Lars Mossing Madsen, First Vice President, tel +45 44 55 11 66, or Pernille Bach Ladevig, Senior Dealer, tel +45 44 55 10 63.
Other enquiries may be addressed to Henrik Hjortshøj-Nielsen, Executive Vice President, Group Treasury, tel +45 44 55 10 40, or Nels Petersen, Head of Corporate Communications, tel +45 44 55 14 70/+45 20 22 22 72.
