SEK 300m tap issue of inaugural SEK issue in DecemberÍslandsbanki has today issued a SEK 300m tap into its inaugural SEK 500m Floating Rate Note (FRN) maturing 16 December 2017.
The tap increases the issue size to SEK 800 million, and was sold to Scandinavian investors at a price of 102.45 which corresponds to a floating rate of 3 month Stibor + 330bp or 70bp lower than in December. Good access to international capital markets and increased autonomy in funding will ensure Íslandsbanki a competitive advantage in the long term.
The bond is expected to be listed on the Irish Stock Exchange on 12 March.
The bonds are issued under Íslandsbanki's USD 250m Global Medium Term Note (GMTN) Programme.
The transaction was arranged by Pareto Securities AB in Stockholm.