Issuer Presentation - Nykredit
Issuer Presentation - Nykredit
Issuer Presentation - Nykredit
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Junior Covered Bonds - An Overview<br />
� <strong>Issuer</strong>: <strong>Nykredit</strong> Realkredit (out of a specific Capital Centre)<br />
� Purpose: To add additional layer of support in the cover pool if market<br />
value of underlying properties breach LTV limits or to support<br />
credit ratings<br />
� Use of proceeds: Proceeds must be placed in high quality assets and included<br />
in the cover pool (government bonds, covered bonds, etc.)<br />
� Investor: Investors are protected through the underlying cover pool<br />
of assets and the issuer's capital<br />
� Risk-weighting: 20%<br />
� Repo-eligibility: Danmarks Nationalbank and the European Central Bank<br />
� Rating: A+ by Standard & Poors<br />
� Legal Framework: Section 15 of the Danish Mortgage-Credit Loans and<br />
Mortgage-Credit Bonds Act (Covered Bond law)<br />
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