Jyske Realkredit’s auction for July 1st 2024 refinancing
May 02 2024 - 5:09AM
Jyske Realkredit’s auction for July 1st 2024 refinancing
To Nasdaq Copenhagen
A/S 2nd
of May
2024 Announcement
no. 39/2024
Jyske Realkredit’s auction for July
1st 2024
refinancingJyske Realkredit plans to carry out the auction
on Thursday 23rd of May 2024 for loans in both Cover pool E.
The refinancing amount and bond to be offered are specified in
the table below:
|
Open |
Close |
Allocation |
Name |
ISIN |
Amount mill. |
LCR |
Thursday 23rd of May |
10:00 |
10.30 |
10:35 |
422.E.OA Cibor3 07/2028 |
DK0009414765 |
10,000 |
1B |
|
11:00 |
11:30 |
11:35 |
422.E.OA Cibor3 07/2027– Green bond |
DK0009414682 |
1,300 |
non |
Auction terms appear in the appendix.
Questions regarding the bond sale as well as technical matters
may be addressed to Anders Lund Hansen, Executive Vice President,
tel. (+45) 89 89 92 20 or Christian Bech-Ravn, Head of Investor
Relations, tel. (+45) 89 89 92 25.
The information will also be available on Jyske Realkredit’s web
site at jyskerealkredit.com.
Yours sincerelyJyske Realkredit
Please observe that the Danish version of this announcement
prevail.
Appendix - Auctions terms
Refinancing principles floating-rate
loansFloating-rate loans are refinanced at one auction on
23rd of May 2024. The bonds are offered and settled at a price of
100.20.
Based on the offer price, bids must be made in terms of the
reference rate spread used for the regular coupon fixing. Bids must
be placed correct to one basis point.
For all bonds bids must be made in multiples of DKK
1,000,000
Type of auctionBonds issued through Capital
Centre E will be auctioned through Bloomberg’s auction system.
Allotment All bids below the cut-off fixing
spread will be settled in full at the cut-off fixing spread.
For bids at the exact cut-off fixing spread, proportional
allocation may be used. No bids above the cut-off fixing spread
will be settled.
All trades concluded will be published through Nasdaq
Copenhagen.
Allotment at the auction will take place as soon as possible,
and not later than 5 minutes after closing.
Value date All bonds will be subject to long
settlement. The value date of all trades executed at the auction
will be 1st of July 2024.
Reverse facility As the bonds traded will be
subject to long settlement, Jyske Realkredit offers a reverse
facility to auction participants whose bids have been accepted and
who require the bonds after only two days.
By means of the reverse facility, Jyske Realkredit offers to
sell the allotted bonds subject to the conventional two settlement
days and subsequently repurchase them with 1st of July 2024 as the
value date.
The size of the reverse facility will be determined on an
individual basis but cannot exceed the amount allotted to each
individual bidder. The reverse facility can be made conditional on
the investor providing a corresponding amount of SDO or RO bonds
maturing on 1 July 2024.
Reverse facilities will be arranged on an individual basis.
Please contact Jyske Realkredit, by Michael Dan Pedersen on phone
(+45) 89 89 92 21 or Kim Brodersen on phone (+45) 89 89 92 22
Credit RatingsAll auctioned bonds issued
through Capital Centre E rated AAA by S&P.
Reservations regarding auctions If, contrary to
expectations, technical problems should prevent Jyske Realkredit
from conducting an auction through Bloombergs auction system, a
stock ex-change announcement will be issued containing the
practical details of the auction.
Other termsJyske Realkredit is
not obliged to sell the announced offering, and the offering may
furthermore be subject to changes following loan disbursements in
the auction period. In addition, the entire or parts of the
offering may be postponed, but not later than the second-last
business day of this quarter. On or before the second-last business
day of this quarter, it must be ascertained whether the number of
purchasers was sufficient for all the covered bonds offered. If a
sale of bonds has to be cancelled, the market will be notified
immediately by a stock exchange announcement.