Danske Mortgage amendments to three bonds take effect Sept. 16

Chicago, Sept. 6 – Danske Mortgage Bank plc said that the amendments from its consent solicitation will be effective on Sept. 16, according to an announcement.

The company had sought consents from its covered bondholders to modify the terms and conditions so that the definition of the “Covered Bonds Act” would refer to the New Finnish Covered Bonds Act. The solicitation started June 9 for the following bonds:

• €750 million 0.375% covered bonds due 2023 (ISIN: XS1914497034);

• €500 million 0.01% covered bonds due 2026 (ISIN: XS2412105533); and

• €1 billion 0.01% covered bonds due 2028 (ISIN: XS2058989489).

The amendments allowed the issuer to maintain one covered pool for both the covered bonds and other covered bonds issued in the future.

The early participation fee was 0.05% of the outstanding nominal amount of the covered bonds. To receive the fee, noteholders had to participate before 11 a.m. ET on June 20.

The expiration deadline was 11 a.m. ET on June 28.

Meetings were held at 5 a.m. ET on July 1.

At the meetings on July 1, quorums were achieved and the extraordinary resolution was passed for each series.

The fee was paid not later than July 6.

Represented at the meeting were 45.02% of the outstanding 2023 bonds, 66.13% of the outstanding 2026 bonds and 34.72% of the outstanding 2028 bonds.

The solicitation agents were BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com) and Danske Bank A/S (+45 45 14 32 33, liabilitymanagement@danskebank.dk).

The tabulation agent is Kroll Issuer Services Ltd. (+44 20 7704 0880, danskebank@is.kroll.com, https:deals.is.kroll.com/danskebank).

Danske Bank is a Copenhagen-based bank. Danske Mortgage Bank is part of Danske Bank Group.

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