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Islandsbanki hf.: Upcoming covered bond auction 30 January

Íslandsbanki hf. will be holding an auction on covered bonds on Wednesday 30 January 2019.

The non-index linked series ISLA CB 21 and ISLA CB 23 and the CPI-linked series ISLA CBI 28 will be offered to investors.

ISLA CB 21 is a new fixed rate series maturing on 21 September 2021. The bond bears a 5,75% nominal interest paid semi-annually.

ISLA CBI 28 is a new amortizing CPI-linked series maturing on 11 August 2028. The bond bears a 2,2% nominal interest.

The series are expected to be listed on Nasdaq Iceland on 11 February 2019.

Please note that, in respect of bids accepted in the auction:

Íslandsbanki will be accepting ISLA CB 19 and ISLA CBI 19 as payment towards the purchase of bonds in the above-mentioned series, ISLA CB 21, ISLA CB 23 and ISLA CBI 28.

Íslandsbanki will purchase ISLA CB 19 at the clean price of 100.45, which is equivalent to a 4.40% yield, and Íslandsbanki will purchase ISLA CBI 19 at the clean price of 100, which is equivalent to a 2.84% yield.

The value of ISLA CB 19 and ISLA CBI 19, with accrued interest, will constitute payment towards the bonds issued 11 February 2019.

The intention to tender ISLA CB 19 and/or ISLA CBI 19 as payment in the auction shall be submitted along with the offer.

The auction will be managed by Íslandsbanki’s Fixed Income Sales. Offers shall be submitted by e-mail to vbm@isb.is before 16:00 p.m. on 30 January 2019.

For further information:

Investor Relations - Gunnar S. Magnússon, ir@islandsbanki.is and tel: +354 440 4665.

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