Nykredit to Refinance $19 Billion in Mortgage Bond Auctions

Nykredit A/S, Europe’s largest mortgage-backed covered bond issuer, said it will refinance 109 billion kroner ($19.3 billion) in auctions to be held this month and next.

Monthly payments for homeowners holding adjustable-rate loans probably will remain low, Nykredit said in an e-mailed statement. Payments, including principal, for loans financed by one-year bullet bonds will be about 3,285 kroner after tax. That’s 500 kroner lower than the average payment since the loans were introduced in 1996, the Copenhagen-based lender said.

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