Islandsbanki hf. : Íslandsbanki sells commercial paper
Íslandsbanki hf. has today sold 6 month commercial paper. The total issuance in the series cannot exceed ISK 1.50bn in nominal terms. The auction was structured so that bidders submitted bids at a predetermined rate (price), at a simple rate of 6.10% (price: 97.0243).
Bids for ISK 1.32bn were accepted. Prior to the auction the total outstanding commercial paper amounted to ISK 8.53bn.
The commercial paper was sold to a broad group of investors. Trading is expected to commence on 17 January 2014 on the Nasdaq OMX Iceland.