Islandsbanki hf. : Covered bond tap issues
Following these latest issues, the total amount issued in ISLA CB 15 has reached ISK 3.92bn and ISLA CB 16 has reached ISK 2.47bn. In total, Íslandsbanki has now issued covered bonds amounting to ISK 27.37bn since its inaugural issue in December 2011.
Sold to a broad group of investors, total appetite for the tap issue amounted to ISK 1.98bn, of which 73% of the offers were accepted. Trading is expected to commence on 11 April 2014 on the NASDAQ OMX Iceland. Market making for all of Íslandsbanki's covered bond issues is in the hands of MP bank.
The bonds are issued under Act 11/2008 on Covered Bonds which obliges the issuer to fulfil strict requirements, whereby the underlying cover pool must withstand a weekly stress test with regards to interest rates and exchange rates. The issuances are regulated by the Icelandic Financial Supervisory Authority which additionally appoints an independent inspector to monitor the issuances. Special cover pool reports on the covered bond issuances are published quarterly and can be found on Íslandsbanki's web.
For further information:
• Investor Relations - Tinna Molphy, firstname.lastname@example.org and tel: +354 440 3187.
• Media Relations - Dögg Hjaltalín, email@example.com and tel: +354 440 3925.