Issuance of capital and debt instruments
DLR issues loss-absorbing senior debt to meet the debt buffer requirement and tier 2 capital, which is included in DLR’s own funds. Both are issued under the following base prospectus:
Debt Issuance Programme, September 2023
DLR’s loss-absorbing senior debt consists of Senior Non-Preferred Notes (SNP), which is issued pursuant to new legislation on creditor hierarchy, which entered into force on 1 July 2018. The loss-absorbing senior debt can be written down or converted into share capital should DLR become distressed.
DLR’s Tier 2 capital is supplementary capital pursuant to Regulation (EU) No 575/2013 (CRR-Regulation) of the European Parliament and of the Council and is hereby included in DLR’s own funds.
DLR’s outstanding issuances of capital and debt instruments are shown in the table below. The final terms for the specific issues are shown below.
| ISIN | Type | Amount (DKKm) | Issue date | Maturity date | Maturity (years) | Benchmark rate | Spread |
|---|---|---|---|---|---|---|---|
| DK0006352273 | SNP | 1.000 | 03-11-2020 | 01-07-2024 | 3½ | 3M CIBOR | 0,85% |
| DK0006352943 | SNP | 1.000 | 08-06-2021 | 01-07-2025 | 4 | 3M CIBOR | 0,67% |
| DK0006356266 | SNP | 700 | 15-06-2022 | 02-07-2026 | 4 | 3M CIBOR | 1,25% |
| DK0006356340 | SNP | 300 | 15-06-2022 | 02-07-2026 | 4 | Fixed rate | 2,99% |
| DK0006359609 | SNP | 1.000 | 20-06-2023 | 01-07-2027 | 4 | 3M CIBOR | 2,40% |
| DK0030450804 | Tier 2 | 650 | 06-12-2019 | 06-12-2029 (first call-option 06-12-2024) | 10 | 6M CIBOR | 2,50% |
| DK0006357900 | Tier 2 | 650 | 14-10-2022 | 14-10-2032 (first call-option 14-10-2027) | 10 | 3M CIBOR | 4,25% |
| Total capital and debt instruments | 5.300 |