Islandsbanki hf.: 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: 96.9608).
Bids for ISK 1.18bn were accepted. Prior to the auction the total outstanding commercial paper amounted to ISK 8.85bn.
The commercial paper was sold to a broad group of investors. Trading is expected to commence on 27 December 2013 on the Nasdaq OMX Iceland.