Mortgages Draw Record Foreign Demand to Denmark: Credit Markets
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Denmark’s $97 billion mortgage-bond auction is poised to attract record demand from international investors as Europe’s sovereign debt crisis boosts appetite for the top-rated securities.
Nykredit Bank A/S, the country’s biggest issuer of the debt, Realkredit Danmark and more of the nation’s banks will offer bonds tied to home loans with maturities of one to five years in auctions starting today. Foreign funds will buy as much as 20 percent of the debt, an all-time high and up from 15 percent last year, according to Danske Bank A/S.