Nykredit plans groundbreaking senior resolution note

摘要

Nykredit realkredit is pioneering a new kind of subordinated senior bond as it tries to bolster its stack of loss-absorbing debt and its senior ratings. Denmark's biggest mortgage lender, will meet European investors from Monday May 30 to present the so-called "senior resolution note" that is contractually subordinated to the rest of Nykredit's senior debt. Moves by regulators to prevent taxpayers bearing the cost of bank failures have forced institutions across Europe to rethink their balance sheets to ensure they have enough debt that could be bailed in during a crisis.