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Copenhagen Stock Exchange: This year's Auctions Of Mortgage Credit Bonds Reach New Highs

Date 20/12/2002

Throughout the last 10 days, Danish homeowners have refinanced loans for DKK 158 billion.

The bonds are primarily issued in Danish kroner. Mortgage bonds issued in Danish kroner accounted for DKK 113 billion of the total issue, and mortgage bonds issued in euros accounted for EUR 6 billion, or DKK 45 billion.

The share of bonds issued in euros has risen to 29 per cent, up from 17 per cent of the total issue last year.

At the auctions the mortgage banks have sold bonds via the Exchange's electronic issue system for DKK 114 billion in nominal terms, which is a twofold increase on last year. A total of 72 per cent of the refinanced loans were sold via the electronic issue system. Overall, the auction is probably among the largest auctions in the world.

In the auction system the share of bonds issued in euros has risen from 16 per cent in 2001 to 30 per cent.