Jyske Realkredit A/S


Jyske Realkredit’s auctions for April 1st 2021 refinancing

To Nasdaq Copenhagen A/S                                                                                           10th of February 2021
                                                                                                                                                 Announcement no. 15/2021

Jyske Realkredit’s auctions for April  1st 2021 refinancing

In connection to announcement no. 12 of 3rd of February 2021, we hereby update the table of bonds and amount to be offered. The need to hold an auction in 1% JRK 1/4-2024 SDO on Thursday 11th of February 2021 lapses.

The refinancing amount and bonds to be offered are specified in the table below:

 OpenCloseAlloc.NameISINAmount mill.LCR
Monday 8th of February10:3011:2011:251% JRK 1/10-2021 SDODK00093946375 mio.1A
 10:3011:2011:251% JRK 1/10-2022 SDODK000939471010 mio.1A
 10:3011:2011:251% JRK 1/10-2023 SDODK000939498310 mio.1A
 10:3011:2011:251% JRK 1/10-2024 SDODK000939501410 mio.1A
 10:3011:2011:251% JRK 1/10-2025 SDODK000939528710 mio.1A
 10:3011:2011:251% JRK 1/10-2026 SDODK000939536010 mio.1A
 10:3011:2011:251% JRK 1/10-2027 SDODK000939544410 mio.1A
 10:3011:2011:251% JRK 1/10-2028 SDODK000939552710 mio.1A
 10:3011:2011:251% JRK 1/10-2029 SDODK000939714310 mio.1A
 10:3011:2011:251% JRK 1/10-2030 SDODK0009399511115 mio.1A
Tuesday 9th of February09:0009:3009:351% JRK 1/4-2022 SDO (IT)DK00094041052000 mio.1B
 09:3010:0010:051% JRK 1/4-2024 SDODK00093911042250 mio.1B
 13:0013:3013:351% JRK 1/4-2025 SDODK0009391294300 mio.1B
Wednesday 10th of Febraury09:0009:3009:351% JRK 1/4-2022 SDO (IT)DK00094041052000 mio.1B
 09:3010:0010:051% JRK 1/4-2024 SDODK00093911042250 mio.1B
 13:0013:3013:351% JRK 1/4-2026 SDODK00093913772000 mio.1B
Thursday 11th of February09:0009:3009:351% JRK 1/4-2023 SDO (IT)DK0009404295620 mio.-
 13:0013:3013:351% JRK 1/4-2026 SDODK00093913772000 mio.1B

Auction terms appear in the appendix.

Questions regarding the bond sale as well as technical matters may be addressed to Jyske Realkredit, Anders Lund Hansen, Head of Mortgage ALM, tel. (+45) 89 89 92 20 or Christian Bech-Ravn, Head of Investor Relations, tel. (+45) 89 89 92 25.

The information will also be available on Jyske Realkredit’s web site at

Yours sincerely
Jyske Realkredit

Please observe that the Danish version of this announcement prevail.

Appendix - Auctions terms

Refinancing principles adjustable rate mortgage loans
Jyske Realkredit offers fixed-rate non-callable bonds for adjusting interest rates on the loans.

When adjusting the interest rates, the bonds are sold at one or more auctions. The price is determined as a weighted average of the prices obtained at the auctions.

Type of auction
The auction of bonds in both capital centres E and S will be conducted on Bloomberg's auction system.

Bids for the offered bonds must be made in terms of amount and price.

For bonds maturing within 14 months, bids must be made correct to three decimals. For other bonds, bids must be made with an accuracy of two decimals.

For all bonds bids must be made in multiples of DKK 1,000,000

Conditional offer for bonds with interest rate triggers
For the bonds offered with an interest rate trigger, it is a condition for the final completion of the sale (allotment) that there is no increase in interest rates of more than 5 percentage points. Reference is made to the Act on Mortgage Loans and Mortgage Bonds, etc.

All bids above the cut-off price will be settled in full at the cut-off fixing spread. For bids at the exact cut-off price, proportional allocation may be used. No bids below the cut-off price will be settled.
All trades concluded will be published through Nasdaq Copenhagen.

Allotment at the auction will take place as soon as possible, and not later than 5 minutes after closing.

Value date
All bonds will be subject to long settlement. The value date of all trades executed at the auction will be 6th of April 2021.

Reverse facility
As the bonds traded will be subject to long settlement, Jyske Realkredit offers a reverse facility to auction participants whose bids have been accepted and who require the bonds after only two days.
By means of the reverse facility, Jyske Realkredit offers to sell the allotted bonds subject to the conventional two settlement days and subsequently repurchase them with 6thof April 2021 as the value date.

The size of the reverse facility will be determined on an individual basis but cannot exceed the amount allotted to each individual bidder.

The reverse facility can be made conditional on the investor providing a corresponding amount of bonds maturing on 1stof April 2021. Reverse facilities will be arranged on an individual basis. Please contact Jyske Realkredit, Michael Dan Pedersen on phone (+45) 89 89 92 21 or Kim Brodersen on phone (+45) 89 89 92 22

Credit Ratings
All auctioned bonds issued through Capital Centre E are rated AAA by S&P. Bonds issued through Capial Centre S are not rated.

Reservations regarding auctions
If, contrary to expectations, technical problems should prevent Jyske Realkredit from conducting an auction through Bloombergs auction system, a stock ex-change announcement will be issued containing the practical details of the auction.

Other terms
Jyske Realkredit is not obliged to sell the announced offering, and the offering may furthermore be subject to changes following loan disbursements in the auction period. In addition, the entire or parts of the offering may be postponed, but not later than the second-last business day of this quarter.
On or before the second-last business day of this quarter, it must be ascertained whether the number of purchasers was sufficient for all the covered bonds offered. If a sale of bonds has to be cancelled, the market will be notified immediately by a stock exchange announcement

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