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FI CommentDanske Hypotek will introduce a new SEK-covered bond

  1. • Danske Hypotek will introduce 2412
  2. • The coupon is 1%; ISIN SE0012621852
  3. • Pricing at 21-22bp over swap, matched maturity
Danske Hypotek introduces DH2412
Danske Hypotek is set to introduce 2412 on May 23, depending on market conditions. The bond will be issued under the issuer’s SEK benchmark programme. It will mature on December 18, 2024, so it will have a maturity at issue of about five-and-a-half years. The coupon is set at 1%. The new bond will be introduced with the ambition of reaching benchmark status (SEK 5bn) during the first trading day.
Pricing at 21-22bp over swap, matched maturity
The 2412 will have the longest maturity on the Danske Hypotek SEK benchmark curve. We estimate the 2312 will be priced at 21-22bp over swap, matched maturity. Pricing is based on market conditions as of May 20.


Sources: Bloomberg, Handelsbanken

Disclaimer

Kiran Sakaria

Junior Strategist

Foreign Exchange and Fixed Income

kisa02@handelsbanken.se

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