Auctions in ARM bullet bonds

DLR Kredit holds auctions in non-callable bullet bonds (ARM bonds) in February, August and November, respectively, in connection with the refinancing of adjustable-rate mortgage loans (ARM loans) as of 1 April, 1 October and 1 January. In May, auctions are held in non-callable variable-rate bonds (arm short bonds) in connection with the refinancing of variable-rate mortgage loans (arm-short loans) as of 1 July.

Interest rate trigger

As from 1 April 2014, a legislative amendment adopted by the Danish Parliament introduced contingent maturity extension for 1-year ARM bonds if a refinancing auction fails, or if the interest rate rises by more than 5 percentage points within one year. As from 1 January 2015, ARM bonds with longer maturities as well as ARM short bonds are also covered by the new provisions. Based on the latest refinancing auctions, DLR has fixed the following interest rate triggers for bond series covered by the new provisions (‘IT’ bonds):

ISIN Name YTM at last refinancing Interest rate trigger based on YTM at last refinancing
DK00063422091% Apr B 2018 IT-1 (DKK)-0.38%4.62%
DK00063398411% Apr B 2018 IT-2* (DKK)-0.08%4.93%
DK00063434471% jan B 2019 IT-1 (DKK)-0.48%4.52%
DK00063417481% jan B 2019 IT-2* (DKK)-0.34%4.66%
DK00063437931% jan B 2019 E IT-1 (EUR)-0.32%4.68%
DK00063419041% jan B 2019 E IT-2* (EUR)-0.25%4.75%

* The interest rate trigger is based on the yield-to-maturity on an equivalent bond with similar term-to-maturity 11-14 months earlier


November/December 2017 Auctions

Result of December refinancing auctions, DKK and EUR arrow3

December auctions in DLR covered bonds, DKK and EUR arrow3

Result of November refinancing auctions, DKK and EUR arrow3

Auctions in DLR covered bonds, DKK and EUR arrow3

August 2017 Auctions

Result of refinancing auctions arrow3

Auctions in DLR covered bonds arrow3

February 2017 Auctions

Result of refinancing auctions, DKK and EUR arrow3

Auctions in DLR covered bonds - final bond offering arrow3

Auctions in DLR covered bonds - preliminary amounts arrow3

November/December 2016 Auctions

Fixing of interest rate trigger arrow3

Result of December refinancing auctions, DKK and EUR arrow3

Result of November refinancing auctions, DKK and EUR arrow3

Auctions in DLR covered bonds, DKK and EUR arrow3

August 2016 Auctions

Result of refinancing auctions arrow3

Auctions in DLR covered bonds arrow3

May 2016 Auctions

Result of refinancing auctions, DKK arrow3

Auctions in DLR covered bonds arrow3

February 2016 Auctions

Result of refinancing auctions, DKK and EUR arrow3

Final bond offering, DKK and EUR arrow3

Auctions in DLR covered bonds, DKK and EUR arrow3

November/December 2015 Auctions

Result of December refinancing auctions, DKK and EUR arrow3

Result of November refinancing auctions, DKK and EUR arrow3

Final bond offering, DKK and EUR arrow3

Auctions in DLR covered bonds, DKK and EUR arrow3

September 2015 Auctions

Result of refinancing auctions arrow3

Final bond offering arrow3

Auctions in DLR covered bonds arrow3

March 2015 Auctions

Result of refinancing auctions, DKK and EUR arrow3

Final bond offering, DKK and EUR arrow3

Auctions in DLR covered bonds, DKK and EUR arrow3

November/December 2014 Auctions

Result of refinancing auctions, DKK and EUR arrow3

Time schedule for DKK and EUR auctions arrow3

Auctions in DLR covered bonds, DKK and EUR arrow3

September 2014 Auctions

Result of refinancing auctions arrow3

Final bond offering arrow3

Auctions in DLR covered bonds arrow3

March 2014 Auctions

Result of refinancing auctions arrow3

Auctions in DLR covered bonds arrow3

November/December 2013 Auctions

Result of December refinancing auctions, EUR arrow3

Result of December refinancing auctions, DKK arrow3

Final bond offering December 2013, DKK and EUR arrow3

Result of November refinancing auctions, EUR arrow3

Result of November refinancing auctions, DKK arrow3

Auctions in DLR covered bonds, DKK and EUR arrow3

September 2013 Auctions

Result of refinancing auctions arrow3

Final bond offering arrow3

Auctions in DLR covered bonds arrow3

March 2013 Auctions

Auctions in DLR covered bonds arrow3

December 2012 Auctions

Auctions in DLR covered bonds arrow3

September 2012 Auctions

Result of September refinancing auctions arrow3