Stadshypotek has had covered bonds to be issued out of a Danish cover pool assigned a provisional Aaa rating by Moody’s. UBS has gained bondholder consent to convert two hard bullet benchmarks into soft bullets.

As previously reported by The CBR, the Swedish issuer included reference to a Danish cover pool in an offering circular dated November 2015, as well as to a Finnish cover pool that it issued the first benchmark off on on 27 September.

Moody’s today assigned the Svenska Handelsbanken subsidiary’s to-be-issued Danish covered bonds a provisional Aaa rating. As of 31 March, the provisional cover pool totalled Dkr6.608bn (Eu888m), according to the rating agency.

UBS announced today (Thursday), after bondholder meetings, that it has gained consent to convert Eu1bn 3.875% 2019 and Eu1.25bn 4% 2022 covered bonds from hard bullets to soft bullets, with related payments to be made on Monday. The exercise was launched on 28 September.