Íslandsbanki sells commercial paper

12.07.2013 - IR Releases
Islandsbanki hf. has today sold 1, 2, 4 ,5 and 6 month commercial paper. The total issuance in each series cannot exceed 1,500,000,000 ISK in nominal terms. The auction was structured so that bidders submitted bids at predetermined rates (prices). The 1 month commercial paper was offered at a simple rate of 5.90% (price: 99.5594), the 2 month commercial paper at a simple rate of 6.05% (price: 98.8373), the 4 month commercial paper at a simple rate of 6.20% (price: 97.9917), the 5 month commercial paper at a simple rate of 6.25% (price: 97.2809) and the 6 month commercial paper at a simple rate of 6.30% (price: 96.9133).
Total demand in the auction was ISK 5.23bn. Total bids for a nominal value of ISK 130m were accepted for the 1 month commercial paper, ISK 530m for the 2 month commercial, ISK 800m for the 4 month commercial paper, ISK 1,200m for the 5 month commercial and ISK 1,500m for the 6 month commercial paper. Islandsbanki´s total outstanding commercial paper amounts to ISK 8.81bn.
The commercial paper was sold to a broad group of investors. Trading is expected to commence on 19 July on the Nasdaq OMX Iceland.

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