Íslandsbanki sells commercial paper
Íslandsbanki hf. has today sold 6 month commercial paper. The total issuance in the series cannot exceed ISK 1.5bn in nominal terms. The auction was structured so that bidders submitted bids at a predetermined rate (price), at a simple rate of 6.20% (price: 96.9770).
Total bids for a nominal value of ISK 1.74bn were submitted and bids for ISK 1.5bn were accepted. Total outstanding commercial paper amounts to ISK 8.85bn.
The commercial paper was sold to a broad group of investors. Trading is expected to commence on 12 November 2013 on the Nasdaq OMX Iceland.