Danmarks Skibskredit to buy €277.1 million bonds from two series

By Wendy Van Sickle

Columbus, Ohio, Oct. 14 – Danmarks Skibskredit A/S said it will accept €64.9 million of its 0.25% covered bonds due Sept. 28, 2022 and €212.2 milling of its 0.125% covered bonds due March 20, 2025 under its invitation to bondholders to sell the bonds for cash abounded on Oct. 11, according to a notice.

The purchase price for the 2022 bonds (ISIN: DK0004132594) will be 100.7, and the price for the 2025 bonds (ISIN: DK0004132677) will be 100.804. The bonds are being accepted for purchase without any pro-ration factor, which means the company is accepting all of the bonds submitted by holders under the offer.

There was €500 million of bonds of each series outstanding at the outset of the offer.

The offer remains subject to some conditions. Settlement is expected on Oct. 21. Bonds purchased under the invitation may or may not be canceled.

Danske Bank A/S (+45 45 14 68 12) is acting as billing and delivery bank and as a dealer manager. Additional dealer managers are Credit Suisse Bank (Europe), SA (+44 20 7883 8763 or liability.management@credit-suisse.com), DekaBank Deutsche Girozentrale (+49 69 7147 6028/6053 or DebtSyndicate@deka.de) and Skandinavaska Enskilda Banken AB (publ) (+46 850623188 or liabilitymanagementdcm@seb.se).

Based in Kobenhavn, Denmark, the issuer offers mortgage-financing services.

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