Íslandsbanki sells commercial paper
Íslandsbanki hf. has today offered 5 and 6 month commercial paper to investors. The total issuance in each series cannot exceed ISK 1.5bn in nominal terms. Offers of ISK 1,060m were accepted. Nominal amount sold in series ISLA 16 0212 was ISK 560m at the simple rate of 6.45% (price 97.4849) and sold in series ISLA 16 0321 was ISK 500m at the simple rate of 6.50% (price 96.8184).
Prior to the auction the total outstanding commercial paper amounted to ISK 3.2bn. Total appetite for the issue amounted to ISK 1,940m. Trading is expected to commence on 21 September 2015 on Nasdaq Iceland, shortnames; ISLA 16 0212 and ISLA 16 0321.