Kalvebod Plc
Kalvebod plc Series 3

Kalvebod Plc 

10.04.2014 16:20

Dissemination of a Adhoc News, transmitted by DGAP - a company of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

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Kalvebod plc Series 3 DKK 265,000,000 Fixed/Floating Rate Secured Notes due 2014
(ISIN: DK0030033378) (the 'Notes')

We refer to the Notes and the Prospectus in respect of the Notes dated 23 June
2006.  On behalf of the Issuer, in our capacity as Listing Agent, we hereby
notify you that a Bond Call Date will occur on 1 May 2014 when certain
securities forming the Collateral of the Notes will be redeemed at the option
of the relevant issuer in accordance with the terms and conditions thereof. 

The notice set out in Annex 1 hereto has been delivered to each of the
Noteholders. 





Yours faithfully

NYKREDIT BANK A/S

By:                                                                            
                                                By: 



Name:                                                                          
                                             Name: 




                                    ANNEX 1

                                        

                                     NOTICE

                                to the holders of

Kalvebod plc Series 3 DKK 265,000,000 Fixed/Floating Rate Secured Notes due 2014
                       (ISIN: DK0030033378) (the 'Notes')

Terms used in this notice and not otherwise defined herein shall have the
meanings respectively ascribed to them in the prospectus dated 23 June 2006 in
respect of the Notes (the 'Prospectus'). 

We have received a notice from the Calculation Agent in respect of the Notes
informing us that a Bond Call Date will occur on 1 May 2014 when certain
securities forming the Collateral of the Notes (the 'Called Bonds') will redeem
at the option of each relevant issuer in accordance with the terms and
conditions thereof. 

The Called Bond is:

  1. DKK 50,000,000 nominal of Møns Bank A/S, 3-months CIBOR + 1.25%, step up
     after 01 November 2011 to 3-months CIBOR + 2.75%, Subordinated Bonds due 01
     November 2014, Callable on and after 01 November 2011, ISIN: DK0030027800.

With effect from the Bond Call Date:

1.the Called Bond shall not form part of the Collateral;2.the Collateral shall
thereafter comprise only: 

DKK 50,000,000 nominal of Sparekassen Bredebro, 5.42%, floating 3 months CIBOR
+ 2.85% after 01 November 2011, Subordinated Bonds due 01 November 2014,
Callable on and after 01 November 2011, ISIN: DK0030033105; 

DKK 75,000,000 nominal of Vestjysk Bank (formerly 'Hadsten Bank') A/S, 3-months
CIBOR + 1.10%, step up after 01 November 2011 to 3-months CIBOR + 2.60%,
Subordinated Bonds due 01 November 2014, Callable on and after 01 November
2011, ISIN: DK0030032990; and 

DKK 90,000,000 nominal of Saxo Privatbank A/S (formerly 'Brørup Sparekasse'),
3-months CIBOR + 1.10%, step up after 01 November 2011 to 3-months CIBOR +
2.60%, Subordinated Bonds due 01 November 2014, Callable on and after 01
November 2011, ISIN: DK0030032644; (together the 'Uncalled Bonds'); 

  1. the Issuer Call Nominal Amount Reduction shall be DKK 50,000,000, being the
     amount equal to the aggregate principal amount of the Called Bond; and
  2. the aggregate principal amount of the Notes shall be reduced to DKK
     215,000,000; and
  3. the Interest Rate applicable to each Interest Period falling from (and
     including) the Bond Call Date to (but excluding) the Maturity Date shall be
     equal to the interest accrued on the Uncalled Bonds in respect of such
     Interest Period and actually received by or on behalf of the Issuer in
     respect of the Uncalled Bonds no later than the Interest Payment Date on
     which such Interest Period ends.

Pursuant to the terms of the Notes, promptly following receipt of the
redemption moneys in respect of the Called Bond, expected to occur on or around
1 May 2014, an amount is due to be paid by the Issuer to the holder of each
Note equal to such Note's pro rata share of the redemption moneys actually
received by the Issuer in respect of the Called Bond, and such amount shall
constitute full and final satisfaction of all of the Issuer's obligations to
make any payment of principal in respect of the portion of the principal amount
of each Note which has been subject to the relevant Issuer Call Nominal
Reduction. 

Holders of the Notes should be aware that the Called Bond forming part of the
Collateral of the Notes will be written down by VP Securities A/S on 24 April
2014, in advance of the 1 May 2014 Bond Call Date. Holders of the Notes wishing
to conduct transactions in the Notes with a settlement date between 24 April
2014 and 1 May 2014, should contact VP Securities A/S directly for additional
information. 

For further information in relation to the terms and conditions of the Notes
please refer to the Prospectus, a copy of which may be obtained from Jan K.
Villadsen, telephone number +45 44 55 12 90, or Ditte Sveidahl, telephone
number +45 44 55 19 94, at Nykredit Bank A/S, Kalvebod Brygge 1-3, DK-1780
Copenhagen V. 



Issued by Kalvebod plc

Date: 10 April 2014
News Source: NASDAQ OMX



10.04.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      Kalvebod Plc
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0030014667
WKN:          
 
End of Announcement                             DGAP News-Service
 
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