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Islandsbanki hf.: Íslandsbanki concludes covered bond offering

Íslandsbanki hf. has today concluded an offering of covered bonds.

  • The non-indexed issue ISLA CB 23 was sold for an amount of ISK 1,480m at a yield of 5.72%.
  • The CPI-linked issue ISLA CBI 22 was sold for an amount of ISK 760m at a yield of 3.34%.
  • The CPI-linked issue ISLA CBI 26 was sold for an amount of ISK 2,040m at a yield of 3.22%.
  • Total demand amounted to ISK 4,580m.

Trading is expected to commence on 18 November 2016 on Nasdaq Iceland.

In connection with the auction, a bond exchange offering took place where holders of the CPI-linked ISLA CBI 16 could sell the bonds in the series against bonds bought in the above-mentioned auction. The nominal of the exchange was ISK 1,280m.

So far this year Íslandsbanki has issued covered bonds in the amount of ISK 18,000m. The total nominal amount of outstanding covered bonds issued by Íslandsbanki will be to ISK 65,420m.

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