Íslandsbanki hf.: Upcoming covered bond auction 27 September (MFN)

2023-09-25 18:13

Íslandsbanki hf. will be holding an auction on covered bonds on Wednesday 27 September 2023.

The series ISB CBF 27 and ISB CBI 29 will be offered to investors.

In connection with the auction, a covered bond exchange offering will take place, where holders of the series ISB CB 23 and ISB CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price for the bonds is predefined at 99.8118 (yield 9.65%) for ISB CB 23 and at 99.5810 (yield 4.50%) for ISB CBI 24.

The Bank reserves the right to accept or reject offers in part or in whole.

Expected settlement date is 4 October 2023.

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 27 September 2023.

For further information please contact:
Investor Relations - Bjarney Anna Bjarnadóttir, ir@islandsbanki.is
Public Relations - Edda Hermannsdóttir, pr@islandsbanki.is

About Íslandsbanki
With a history that dates from 1875, Íslandsbanki is an Icelandic universal bank with a strong customer focus. The Bank believes in moving Iceland forward by empowering its customers to succeed - reflecting a commitment to run a solid business that is a force for good in society. Driven by the corporate vision to create value for the future with excellent service, Íslandsbanki’s banking model is led by three business divisions that build and manage relationships with its customers. Íslandsbanki maintains a strong market share with the most efficient branch network in the country, supporting at the same time its customers’ move to more digital services. The Bank operates in a highly attractive market and, with its technically strong foundations and robust balance sheet, is well positioned for the opportunities that lie ahead. Íslandsbanki has an A3 rating from Moody’s Investor Services and a BBB/A-2 rating from S&P Global Ratings. The Bank’s shares are listed on Nasdaq Iceland Main Market.

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