Nordea Kredit Investor Reports
As of 1 April 2014 new legislation introduced maturity extension for new 1-year ARM bonds in case of a failed auction, or if interest rate rises by more than 5 percentage points within one year (the interest rate trigger).
As from 1 January 2015 all new ARM bonds is covered by the maturity extension in case of a failed auction. The legal provisions regarding interest rate rises will cover all new ARM bonds with maturities of up to and including 2 years.
Based on the latest refinancing auctions, Nordea Kredit has fixed the interest rate triggers for bonds in question - the trigger rates are shown in the table below.
|DK0002041102||1NDASDROOK19IT1Y||4,576||Auction August 2018|
|DK0002038314||1NDASDROOK19IT2Y||4,764||Auction August 2018|
|DK0002041375||1NDAsEUOK19IT1Y||4,737||Auction August 2018|
|DK0002041615||1NDASDROJA20IT1Y||4,569||Auction November 2018|
|DK0002039205||1NDASDROJA20IT2Y||4,787||Auction November 2018|
|DK0002042340||1NDAsEUJA20IT1Y||4,754||Auction November 2018|
This ISIN has not been auctioned as the amount to be refinanced was considered too low. The interest rate for this ISIN has been set by Nordea Kredit based on the interest rate for ISIN DK0002042423 and on market conditions. The ordinary 5 per cent interest rate trigger applies.
|DK0002042506||1NDASDROAP20IT1Y||4,573||Auction February 2019|
|DK0002039718||1NDASDROAP20IT2Y||4,779||Auction February 2019|
|DK0002042852||1NDAsEUAP20IT1Y||4,835||Auction February 2019|
|DK0002040724||1NDAsEUAP20IT2Y||5,015||This ISIN has not been auctioned as the amount to be refinanced was considered too low. The interest rate for this ISIN has been set by Nordea Kredit based on the interest rate for ISIN DK0002043587 and on market conditions. The ordinary 5 per cent interest rate trigger applies.|
Target Market Information
MIFID II came into force January 2018. As a consequence, a target market description has been prepared for the bonds of Nordea Kredit.