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Íslandsbanki sells commercial paper

Íslandsbanki hf. has today sold 5 and 6 month commercial paper. The total issuance in each series cannot exceed ISK 1.5bn in nominal terms. The auction was structured so that bidders submitted bids at predetermined rates (prices). The 5 month commercial paper at a simple rate of 6.15% (price: 97.4528) and the 6 month commercial paper at a simple rate of 6.20% (price: 96.9770).

Total bids for a nominal value of ISK 1.5bn for the 5 month commercial were accepted and ISK 1.5bn for the 6 month commercial paper. Total outstanding commercial paper amounts to ISK 10.45bn.

The commercial paper was sold to a broad group of investors. Trading is expected to commence on 20 September on the Nasdaq OMX Iceland. 

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