Islandsbanki hf.: Íslandsbanki issues SEK 500 million 10NC5 Tier 2 bond

24.08.2018 - IR Releases

Íslandsbanki has today issued a SEK 500 million 10NC5 Tier 2 at a spread of STIBOR +250. The bond is expected to be rated BBB- by S&P Global Ratings which is investment grade.This is Íslandsbanki’s second subordinated issue and it follows from a successful SEK 750 million Tier 2 debut issue in November 2017. That transaction was the first of its kind from an Icelandic bank in international capital markets since 2008.

Placement of the current transaction was focused towards investors across the Nordic region. Íslandsbanki is committed to maintaining a visible presence in Nordic local currency markets and to remain close to this important set of investors. The Bank has relatively limited scope to issue Tier 2 bonds, and this transaction takes the Bank substantially closer to fulfilling its requirements for the foreseeable future. Interest in the issue from international investors underlines their continued confidence in Íslandsbanki and the Icelandic economy.

The bonds will be issued under Íslandsbanki’ s USD 2,500m Global Medium Term Note (GMTN) Programme which enables Íslandsbanki to issue bonds in a broad range of currencies at fixed or floating interest rates. The GMTN Base Prospectus and its supplements are available at www.islandsbanki.is/ir.

The bond is expected to be listed on the Irish Stock Exchange on 31 August 2018.

Joint bookrunners on the transaction were Danske Bank, Nordea and Swedbank.

For further information:

Investor Relations – Gunnar S. Magnusson, ir@islandsbanki.is and tel: +354 440 4665.

Older news

Íslandsbanki issues EUR 300m bond and announces partial buyback of its 2020 EUR 500m bond

04.04.2019 - IR Releases
Íslandsbanki has today issued a EUR 300m 1.125% fixed rate senior unsecured bond for 3 years, at a spread of 130 basis points over mid-swaps.More

Annual General Meeting 2019 - agenda, candidates and proposals

19.03.2019
The Annual General Meeting of Íslandsbanki hf. will be held on March 21, 2019 at the Bank's headquarters, Hagasmári 3, 201 Kópavogur at 15:00.More

Publication of 2018 Annual Report and Pillar 3 Report

13.02.2019 - IR Releases
Íslandsbanki has published an Annual Report and Pillar 3 Report for 2018. More

Annual Results 2018

13.02.2019 - IR Releases
The Bank and Íslandssjóðir turned in a good operating performance during the year, with a consolidated profit of ISK 10.6bn, while operational...More

Publication of 2018 year-end results

30.01.2019 - IR Releases
Close of business Wednesday, 13 February 2019More

Íslandsbanki to terminate credit rating contract with Fitch Ratings

30.01.2019 - IR Releases
Íslandsbanki informs that following expiration and by agreement of parties, the credit rating service contract between Fitch Ratings and Íslandsbanki...More

Ásmundur Tryggvason to direct Corporate and Investment Banking

23.01.2019
Ásmundur Tryggvason has been engaged as director of Corporate and Investment Banking at Íslandsbanki. He replaces Vilhelm Már Þorsteinsson, who will...More
Netspjall