The Credit Package, adopted by the Danish parliament on February 3, 2009, provides Danish banks with the possibility of receiving individual state guarantees for specific bond issues.
Danske Bank has entered into an agreement today on the terms under which the Bank can receive individual state guarantees for bond issues. The agreement gives the Bank the possibility, in the course of the coming year, to apply for state guarantees for specific bond issues for a value of up to DKK 100 billion and with maturities of up to three years.
The agreement further strengthens Danske Bank’s liquidity contingency. Danske Bank will pay a guarantee commission in accordance with the Danish Act on Financial Stability and related executive orders.
Bonds issued with a guarantee are expected to receive the following ratings: Aaa from Moody’s, AAA from Standard & Poor’s and AAA from Fitch, corresponding to the rating of the Danish State.
Danske Bank A/S
Senior Vice President Cato Baldvinsson, +45 45 12 84 10