February 15, 2018 / 10:31 AM / 9 days ago

Danish central bank completes dollar hedging related to new warplanes

COPENHAGEN (Reuters) - The Danish central bank has completed $3.7 billion worth of hedging of payments in connection to Denmark’s planned purchase of 27 new fighter aircrafts, it said on Thursday.

    - Danish lawmakers agreed last year to buy 27 F-35 Lightning fighter jets from U.S. Lockheed Martin Corp (LMT.N) with expected delivery in the years 2021 to 2026.

    - As most costs are in dollars it was decided to hedge the expected payments in dollars so that the price in Danish crowns would be fixed.

    Reporting by Teis Jensen; Editing by Jacob Gronholt-Pedersen

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