Commentary & Deal Flow

Reoffer: 2yr: 3mE+45bp

• Issuer: Nykredit Realkredit A/S (NYKRE)
• Exp. Ratings: A-/A+ (S&P/Fitch)
• Format: Reg S, dematerialized, senior non-preferred
• Size: €500m
• Ranking: Senior Non-Preferred
• Settlement: 25-Sep-26 (T+7)
• Maturity: 25-Sep-28
• Coupon: 3mE+45, quarterly, act/360
• Reoffer: 3mE+45bp
• Issuer Call Options: Clean-up call, tax changes call
• Denoms: 100k x 1k
• ISIN: DK0030567086
• Sole Bookrunner: JPM
• FTT: 12:35pm London