Islandsbanki hf. : Upcoming covered bond auction

15.10.2015 - IR Releases

Íslandsbanki hf. is holding an auction on non-indexed and CPI-linked covered bonds to investors on Friday 16th October 2015. A new 8-year non-indexed issue, ISLA CB 23, and a 7-year CPI linked issue, ISLA CBI 22, are being offered to investors. Alongside the auction Íslandsbanki is offering to buy back bonds in the series ISLA CBI 19, ISLA CBI 20 and ISLA CBI 24 for up to ISK 240m in each series. Holders of bonds in the aforementioned series can offer their bonds, free of commission, either in exchange for ISLA CB 23 or ISLA CBI 22 or by selling them directly to Íslandsbanki before 2:00 p.m. on Friday 16th October. The buyback will be in the format of a Dutch auction, i.e. Íslandsbanki will accept the highest yield offered for up to ISK 240m nominal value in each series