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Fund Management

Danske mortgage arm prepares to refinance USD 4.4 billion in bonds

As Danske Bank A/S fields questions from international investors about money laundering, it’s preparing to issue about USD 4.4 billion (Euro 3.85 billion) in covered bonds this week.
The worry is that the Danske Bank laundromat case might raise borrowing costs in Denmark’s $470 billion covered bond market, which is the world’s biggest. | Photo: ritzau/Hansen Michael
The worry is that the Danske Bank laundromat case might raise borrowing costs in Denmark’s $470 billion covered bond market, which is the world’s biggest. | Photo: ritzau/Hansen Michael
Frances Schwartzkopff/Bloomberg

The sale, which is part of a quarterly auction by Denmark’s mortgage issuers to fund adjustable-rate mortgages, represents about a third of the total refinancing that the industry plans to do through Friday.

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