Realkredit Danmark is planning its first syndicated sale of a Swedish krona covered bond, which could emerge next week after a day of investor meetings on Thursday in Stockholm.

Realkredit Danmark, Aarhus

The mortgage credit institution yesterday (Monday) announced that it has hired Danske Bank, Handelsbanken Capital Markets and Swedbank to arrange the meetings, and that a Swedish krona denominated covered bond could follow. The covered bonds would be issued out of Capital Centre T.

RD has issued Swedish krona covered bonds twice before, most recently in May 2013. It has a Skr5.6bn (Eu63.37m) issue due in April that the targeted syndicated deal would refinance, and a Skr4.8bn deal maturing in April 2015.

A syndicate official at one of the leads said that the issuer decided to switch to a syndicated process out of a feeling that this would allow it to achieve better pricing and reach more accounts.

He said a deal was most likely going to be next week’s business, and that there was already “a good vibe” around the mandate announcement.