Published: 2018-11-06 10:20:00 CET
Nordea Kredit Realkreditaktieselskab
Inside information
Company announcement no. 107, 2018 – Auction of covered mortgage bonds in Nordea Kredit Realkreditaktieselskab.
In order to refinance Nordea Kredit EURIBOR3-based loans as per 1 January
Nordea Kredit will conduct an electronic auction on 21 November

Nordea Kredit will refinance the (EURIBOR3-based) loans by issuing a new
mortgage bond (SDRO). The refinancing auction will be performed by
Nordea Bank.

Covered           ISIN: DK0002043231
mortgage bond     Name:

The auction       The auction will take place at the
auction market at NASDAQ
                  Copenhagen. The participant code for
the offer is NOA.
                  The bonds will be offered at price 100.20.
Bids should be
                  made for the margin to be added to the
reference interest
                  rate at the recurring fixings of the
                  The coupon as per 1 January 2019 will be fixed in
this way: 3
                  month EURIBOR per 19 December 2018 multiplied by
365/360 plus
                  the margin set at the auction. The interest rate
is rounded
                  to two decimals.
should note that the margin set at the auction on
                  21 November
2018 will apply for the full maturity of the
       The auction will be conducted using the Dutch auction
principle and the “hidden call” auction type. This means that
all bids below the margin set at the auction will be fully
allocated. For bids at the margin set at the auction, pro
rata allocation may apply. Bids above the margin set at the
auction will not be allocated.

Auction date      The auction will take place
on Wednesday 21 November 2018.

Rating            The offered covered mortgage
bonds are rated Aaa by Moody’s
                  and AAA by Standard & Poor’s,

LCR category      2A

Auction           EUR 450m. The amount
will be issued with VP Securities on 16
volume            November 2018

           The bonds are offered at price 100.20.

Additional        Nordea
Kredit is not obliged to sell the full offered amount
terms             at the
auction. Nordea Kredit may change the announced sales
including postponing or cancelling the scheduled

Bids/Allocation   The auction will open at 9 a.m. and close at 13.00
                  Accepted bids will be allocated latest at 13.09 p.m.
              Bids must be made for the margin on the reference interest
           rate and bids with up to two decimals will be accepted.

      The settlement date is 2 January 2019.
date              Investors have
the option of receiving the new covered
                  mortgage bond
allocated at the auction with spot settlement
                  provided that
the investor delivers ISIN LU1110205314 to
                  Nordea Bank. This
exchange of bonds can be arranged by
                  contacting either Peter
Brag or Finn Nicolaisen at the day of
                  the auction no later
than 3.00 p.m.

Participants      Anyone with access to the auction market at
                  place a bid.
                  In case of
technical problems bids may be placed with Nordea
Please contact Brian Christophersen at phone +45
                  3333 1693 or
Frank Klahsen at phone +45 3333 1444.

If you have questions please contact
Nordea, Long Term Funding, Peter Brag at

+45 3333 1663 or Finn
Nicolaisen at phone +45 3333 1625.

Kind regards

Nordea Kredit