STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
With the refinancing of Nordea Kredit's (STO:NDA)(OSE:NODA)(HEX:NDA1V)(CSE:NDAR) adjustable rate mortgages (ARMs) as of 1 April 2014 an electronic auction will be held in February 2014.
The ARMs will be refinanced in covered mortgage bonds (SDRO). Nordea Bank Danmark will conduct the auction.
The auction will be held in the market for mortgage bonds at NASDAQ OMX Copenhagen.
The Dutch (hidden call) auction principle will be applied, implying that where bids exceed the cut-off price, the full amount will be settled 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.
Tuesday, 25 February, up to and including Thursday, 27 February 2014.
Final volumes offered and time schedule are expected to be announced in the week 6, 2014.
The auction of bonds will open at 10.00 and close at 11.00 and 12.30. Allocation of accepted bids will be made at 11.10 and 12.40. Bids in bonds with 1-year maturity denominated in DKK and EUR can be placed with 3 decimals. Bids in other auctioned bonds can be placed with 2 decimals only.
1 April 2014.
Bids can be made by anyone with an access to the market for mortgage bonds at NASDAQ OMX Copenhagen.
In case of technical problems, bids can be made to Nordea Markets. Contact persons are Michael Rosentoft phone no. +45 3333 3864 and Kim Petersen phone no. +45 3333 1644.
Nordea Kredit Realkreditaktieselskab
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