Estimated Loss Overview
Please note that the loss percentages below are subject to any potential recovery from any of the defaulted banks.
Updated 28/12/2011.
Losses in ScandiNotes II are following RA Events of EBH Bank A/S, Fionia Bank A/S and Amagerbanken A/S
ScandiNotes II | ISIN Code | Original Tranche Amount | Amount Left in Tranche | % Loss of Tranche | Current Rating |
- Senior | DK0003454742 | DKK 728,375,000 | DKK 77,675,000* | 12.73 | C |
- Junior | DK0003454825 | DKK 133,600,000 | DKK 0 | 100 | n.r. |
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Sum: |
| DKK 861,975,000 |
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* Scandi Notes II Senior tranche was partially redeemed on November 1, 2009 down to DKK 152,675,000.
Losses in ScandiNotes III are following RA Events of Roskilde Bank A/S, EBH Bank A/S, Spron, Icebank, Fionia Bank A/S, Amagerbanken A/S, Fjordbank Mors A/S and Max Bank A/S
ScandiNotes III | ISIN Code | Original Tranche Amount | Amount Left in Tranche | % Loss of Tranche | Current Rating |
- Senior | DK0030015128 | EUR 201,600,000 | EUR 45,289,812** | 24.42 | Ca |
- Mezzanine | DK0030015201 | DKK 413,370,000 | DKK 0 | 100 | C |
- Junior | DK0030015391 | DKK 279,050,000 | DKK 0 | 100 | n.r. |
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Sum: |
| EUR 294,500,000 |
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** ScandiNotes III Senior tranche was partially redeemed on November 1, 2010 down to EUR 95,231,400. After Amagerbanken`s default the amount left in tranche was down to EUR 68,231,400, and furthermore partially redeemed by EUR 5,000,000 on 02/05/2011 plus a principal payment of EUR 441,588. After Fjordbank Mors A/S default in June 2011 the amount left in tranche was further reduced to EUR 55,289,812 and after Max Bank A/S´s default in October 2011 to EUR 45,289,812. Please note, the amount left in tranche is not reflected in the VP System as losses are not allocated in VP systems yet.
Losses in ScandiNotes IV are following RA Events of Roskilde Bank A/S, EBH Bank A/S, Fionia Bank A/S, Amagerbanken A/S, Fjordbank Mors A/S and Max Bank A/S
ScandiNotes IV | ISIN Code | Original Tranche Amount | Amount Left in Tranche | % Loss of Tranche | Current Rating |
- Senior | DK0030039573 | EUR 170,011,000 | EUR 24,668,869.38*** | 0 | B3 |
- Mezzanine | DK0030039656 | DKK 879,571,000 | DKK 376,106,930**** | 57.24 | Ca |
- Junior | DK0030039730 | DKK 300,135,000 | DKK 0**** | 100 | n.r. |
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Sum: |
| DKK 2,447,988,060 |
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*** ScandiNotes IV Senior tranche was partially redeemed on November 17, 2011 down to EUR 24,668,869.38.
**** ScandiNotes IV Junior tranche suffered a total loss after the above mentioned defaults of EBH Bank A/S and Roskilde Bank A/S. The Mezzanine tranche was reduced down to DKK 376,106,930 after defaults of Fionia Bank A/S, Amagerbanken A/S, Fjordbank Mors A/S and Max Bank A/S.
Losses in ScandiNotes V are following an RA Event of Roskilde Bank A/S, Amagerbanken A/S and Max Bank A/S
ScandiNotes V | ISIN Code | Original Tranche Amount | Amount Left in Tranche | % Loss of Tranche | Current Rating |
- Class A | DK0030071386 | DKK 218,100,000 | DKK 218,100,000 | 0 | Ba3 |
- Class B | DK0030071469 | DKK 672,000,000 | DKK 672,000,000 | 0 | Caa3***** |
- Class C | DK0030071543 | DKK 417,900,000 | DKK 417,900,000 | 0****** | Ca***** |
- Class D | DK0030071626 | DKK 255,000,000 | DKK 0 | 100 | C |
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Sum: |
| DKK 1,563,000,000 |
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****** without the guarantee of interest and principal the amount left in tranche of Class C would be DKK 218,657,414 and % loss of tranche would be 51.13 %