Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Nordea Eiendomskreditt — Debt Investor Presentation (2018)
11 slides from Nordea Bank Abp's debt investor presentation, 2018
Slide 1: Nordea Eiendomskreditt Covered Bonds – Q4 2017 Debt investor presentation
Nordea Eiendomskreditt Covered Bonds Q4 2017 Debt investor presentation
Slide 2: Nordea Eiendomskreditt – overview
Nordea Eiendomskreditt – overview Q4 2017 • 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 Q4 2017 Pool notional NOK 127.5bn Outstanding Covered Bonds NOK 78.5bn 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) Q4 2017 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% 50,3% 50% 47,7% 45,6% 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 Q4 2017 Weighted Average LTV – Unindexed 51.0% LTV buckets Nominal (NOKm) % Residential Loans >0 - <=40 % 34 290 26,90% >40 - <=50 % 20 545 16,12% >50 - <=60 % 26 848 21,06% >60 - <=70 % 25 637 20,11% >70 - <=80 % 20 146 15,81% Total 12
Slide 6: Cover pool – geographic distribution
Cover pool – geographic distribution Q4 2017 Fylke Loan balance Region Akershus 17,48 % East Aust-Agder 1,53 % South Buskerud 4,17 % East Finnmark 0,47 % North Hedmark 1,91 % East Hordland 10,86 % West Møre og Romsdal 7,40 % West Nordland 2,03 % North Nord-Trøndelag 0,26 % Mid Oppland 3,62 % East Os
Slide 7: Market share and current maturities
Nordea Eiendomskreditt relative to market Q4 2017 • Average amount outstanding covered bonds at Oslo Børs Current maturities and ABM Nordic was NOK 481bn, and NEK’s share was NOK Billions 14,4% 20,0 15,0 Market share NOK Covered 2017-Q4 10,0 5,0 - 2018 2019 2020 2021 2022 2025 2031 2043 Fixed FRN No
Slide 8: Nordea Eiendomskreditt bonds offer a pick-up
Nordea Eiendomskreditt bonds offer a pick-up Q4 2017 2,5 2 1,5 1 0,5 0 NGB 2019 Norges Bank depo rate Nordea Eiendomskreditt 2019 8•
Slide 9: Covered bonds – outstanding volumes
Covered bonds – outstanding volumes Q4 2017 Breakdown by ISIN ISIN Currency Amount (NOKm) Maturity Coupon (%) NO0010674971 NOK 9 254 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 10: Underwriting criteria – common Nordea policy
Underwriting criteria – common Nordea policy Q4 2017 • 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 a
Slide 11: 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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