Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Nordea Eiendomskreditt — Debt Investor Presentation (2018)
10 slides from Nordea Bank Abp's debt investor presentation, 2018
Slide 1: Nordea Eiendomskreditt Covered Bonds
Nordea Eiendomskreditt Covered Bonds Q1 2018 Debt investor presentation
Slide 2: Nordea Eiendomskreditt – overview
Nordea Eiendomskreditt – overview Q1 2018 • A 100% owned subsidiary of Nordea Bank AB • The purpose of the Issuer is to acquire and provide residential mortgage loans and finance its activities mainly through issuance of covered bonds • Loans in Nordea Eiendomskreditt (NE) are originated by Nordea B
Slide 3: Cover pool key characteristics
Cover pool key characteristics Q1 2018 Pool notional NOK 118.4bn Outstanding Covered Bonds NOK 81.3bn Cover pool content Mortgage loans secured by Norwegian residential collateral Geographic distribution Throughout Norway with concentration to urban areas Asset distribution 100% residential Weighted
Slide 4: Cover pool key characteristics (2)
Cover pool key characteristics (2) Q1 2018 Cover pool balance by loan category Weighted Average LTV - Indexed 100% 90% Summer houses 80% Regulatory limit 75% 3% 70% Tenant owner units Regulatory limit 60% 27% 60% 51,2% 49,5% 50% 45,7% 40% Single family houses 70% 30% 20% 10% 0% Single-family houses
Slide 5: Loan to Value (LTV)
Loan to Value (LTV) Each loan is reported in the highest bucket Q1 2018 Weighted Average LTV – Unindexed 50.7% LTV buckets Nominal (NOKm) % Residential Loans >0 - <=40 % 32 360 27,34% >40 - <=50 % 19 428 16,41% >50 - <=60 % 25 170 21,26% >60 - <=70 % 23 512 19,86% >70 - <=80 % 17 907 15,13% Total 11
Slide 6: Cover pool – geographic distribution
Cover pool – geographic distribution Q1 2018 Fylke Loan balance Region Akershus 17,41 % East Aust-Agder 1,57 % South Buskerud 4,18 % East Finnmark 0,48 % North Hedmark 1,91 % East Hordland 10,94 % West Møre og Romsdal 7,49 % West Nordland 2,02 % North Oppland 3,66 % East Oslo 23,13 % East Rogaland 4
Slide 7: Nordea Eiendomskreditt relative to market
Nordea Eiendomskreditt relative to market Q1 2018 • Average amount outstanding covered bonds at Oslo Børs Maturity structure and ABM Nordic was NOK 481bn, and NEK’s share was NOK Billions 14,4% 20,0 15,0 Market share NOK Covered 10,0 2018-Q1 5,0 - 2018 2019 2020 2021 2022 2023 2025 2031 2043 Fixed F
Slide 8: Covered bonds – outstanding volumes
Covered bonds – outstanding volumes Q1 2018 Breakdown by ISIN ISIN Currency Amount (NOKm) Maturity Coupon (%) NO0010674971 NOK 6 388 2018-06-20 FRN NO0010647241 NOK 12 195 2019-06-19 FRN NO0010692767 NOK 2 380 2019-06-19 3,05 NO0010703531 NOK 12 115 2020-06-17 FRN NO0010741903 NOK 1 000 2020-06-17 1
Slide 9: Underwriting criteria – common Nordea policy
Underwriting criteria – common Nordea policy Q1 2018 Affordability • Customers ability to service its commitment out of its cash flow/income is critical • Repayment ability of borrowers is calculated using stressed scenarios. Customers must manage 5 percentage points increase on interest rate on all
Slide 10: DISCLAIMER – IMPORTANT NOTICE
DISCLAIMER – IMPORTANT NOTICE This presentation and any information contained in this presentation or supplied in connection therewith, whether in writing or not, are provided for information purposes only. Nordea is not acting as your financial adviser or in any other fiduciary capacity and this pr
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