Islandsbanki hf.: Concludes covered bond offering

26.02.2019 - IR Releases

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

Total demand amounted to ISK 5,060m.

Total offers received for the non-index linked issue ISLA CB 21 amounted to ISK 40m at 5.63%. All offers were declined at this time.

The non-index linked issue ISLA CB 23 was sold for an amount of ISK 200m at a yield of 5.90%. Total offers received amounted to ISK 200m at 5.90%. Following the tap issuance, the total amount issued will be ISK 13,000m.

The CPI-linked issue ISLA CBI 28 was sold for an amount of ISK 4,600m at a yield of 2.09%. Total offers received amounted to ISK 4,820m ranging from 2.02% - 2.19%. In addition the series was tapped for ISK 960m for bond lending purposes in relation to market makers. Following the tap issuance, the total amount issued will be ISK 8,100m.

Trading is expected to commence on 7 March 2019 on Nasdaq Iceland.

In line with the auction announcement, Íslandsbanki buys back ISK 280m of ISLA CB 19 as payment towards the purchase of bonds in the auction.

For further information:

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

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