To NASDAQ OMX Copenhagen A/S
13 September 2010
Results of stand-alone auctions based on the auction price principle
On 10 September, Nykredit and Totalkredit have conducted stand-alone auction of
covered bonds (SDOs) in connection with the interest rate reset of ARMs (Nykredit's
Tilpasningslån (F1) and Totalkredit's BoligXlån (X1)) based on the auction price
principle. The interest rates will be reset on 1 October 2010.
The auction had a bid-to-cover rate of 8.0, and bond sales totalled DKK 0.7bn in
nominal terms.
For a retail borrower with a 30Y annuity loan of DKK 1m (33% tax allowance), the
interest rate reset of loans funded by SDOs to be effected on 1 October will result in
the following cash rates and monthly net payments:
ARMs
ARMs
ARMs
funded by
funded by
funded by
1Y bonds
3Y bonds
5Y bonds
(F1/X1)
(F3/X3)
(F5/X5)
DKK
DKK
DKK
Key figures for 2010
Cash rate, with repayments
Monthly net payment, with repayments
Cash rate, interest-only
Monthly net payment, interest-only
1.26%
1.80%
2.29%
DKK 3,270
DKK 3,390
DKK 3,500
1.25%
1.79%
2.29%
DKK 980
DKK 1,280
DKK 1.560
Key figures for 2009
Cash rate, with repayments
Monthly net payment, with repayments
Cash rate, interest-only
Monthly net payment, interest-only
2.06%
3.09%
-
DKK 3,450
DKK 3,710
-
2.04%
3.08%
-
DKK 1,420
DKK 2,000
-
For detailed information on the bond sales, please refer to Appendix 1 and
nykredit.com/ir.
Enquiries may be addressed to Lars Mossing Madsen, Head of Mortgage Finance, tel
+45 44 55 11 66, or Nels Petersen, Head of Corporate Communications, tel +45 44
55 14 70/+45 20 22 22 72.
Nykredit Realkredit A/S
Kalvebod Brygge 1-3
DK-1780 Copenhagen V
Tel +45 33 42 10 00
Nykredit Realkredit A/S
CVR no 12 71 92 80
www.nykredit.com
13 September 2010
Appendix 1: Results of Nykredit’s and Totalkredit’s interest rate reset based on the auction price principle 10 September 2010
ISIN
DK000977446-5
DK000977462-2
DK000977675-9
DK000977683-3
DK000977691-6
DK000977454-9
DK000977500-9
DK000977705-4
DK000977780-7
DK000977799-7
1)
2)
Capitalcentre
SDO
SDO
SDO
SDO
SDO
SDO
SDO
SDO
SDO
SDO
(E)
(E)
(E)
(E)
(E)
(E)
(E)
(E)
(E)
(E)
Rating
Aaa
(Moody’s)
AAA
(S&P)
Coupon
Maturity
date
dd/mm/yy
4
4
2
2
2
4
4
2
2
2
01/04/11
01/04/12
01/04/13
01/04/14
01/04/15
01/10/11
01/10/12
01/10/13
01/10/14
01/10/15
Cur
ren
cy
DKK
DKK
DKK
DKK
DKK
DKK
DKK
DKK
DKK
DKK
Total bids
DKK/EUR
5,570
-
Total
allotment
DKK/EUR
700
-
Auction
price 1)
Market
price 2)
102.716
-
101.443
103.897
100.806
100.320
99.319
104.989
100.603
99.845
98.626
Borrowers’ final refinancing price
Bond sold by tap sale, as Nykredit has decided not to hold an auction of the bond. The price is based on the average price on NASDAQ OMX
Copenhagen on 10 September 2010