Islandsbanki hf.: Upcoming covered bond auction 26 February
Ãslandsbanki hf. will be holding an auction on covered bonds on Tuesday 26 February 2019.
The non-index linked series ISLA CB 21 and ISLA CB 23 and the CPI-linked series ISLA CBI 28 will be offered to investors.
The series are expected to be listed on Nasdaq Iceland on 7 March 2019.
Please note that, in respect of bids accepted in the auction:
Ãslandsbanki will be accepting ISLA CB 19 as payment towards the purchase of bonds in the auction. Ãslandsbanki will purchase ISLA CB 19 at the clean price of 100.1927, which is equivalent to a 4.85% yield. The value of ISLA CB 19, with accrued interest, will constitute payment towards the bonds issued 7 March 2019.
The intention to tender ISLA CB 19 as payment in the auction shall be submitted along with the offer.
The auction will be managed by Ãslandsbanki’s Fixed Income Sales. Offers shall be submitted by e-mail to vbm@isb.is before 16:00 p.m. on 26 February 2019.
For further information:Â
Investor Relations - Gunnar Magnusson, ir@islandsbanki.is and tel: +354 440 4665.
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About Ãslandsbanki
A leader in financial services in Iceland, Ãslandsbanki is a universal bank with total assets of ISK 1,163bn (about EUR8.5bn) and a 25% - 50% market share across all domestic business segments. Building on over 140 years of servicing key industries, Ãslandsbanki has developed specific expertise in tourism, seafood and energy related industries. Driven by the vision to be #1 for service, Ãslandsbanki’s relationship banking business model is propelled by three business divisions that manage and build relationships with the Bank’ s customers. Ãslandsbanki has developed a wide range of online services such as the Ãslandsbanki and Kass apps, enabling customers to do their banking whenever and wherever. At the same time, the Bank continues to operate the most efficient branch network in Iceland through its strategically located 14 branches. For the sixth consecutive year, Ãslandsbanki led the Icelandic Customer Satisfactory Index for banks in 2018 and was also named Best Bank of Iceland in 2018 by Euromoney. Ãslandsbanki has a BBB+/A-2 rating from S&P Global Ratings. www.islandsbanki.is
Disclaimer
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