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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 predetermined rate (price), at a simple rate of 5.95% (price: 97.0642).

Bids for ISK 1.5bn were accepted. Prior to the auction the total outstanding commercial paper amounted to ISK 7.54bn.

The commercial paper was sold to a broad group of investors. Trading is expected to commence on 8 May 2014 on the Nasdaq OMX Iceland.

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