Reykjavík Energy to Host a Green Bond Auction
Orkuveita Reykjavíkur, commonly known as Reykjavík Energy (Ticker: OR), is gearing up for an important event as it prepares to conduct a bond auction. This auction is scheduled for Tuesday, marking the opportunity for investors to acquire bonds produced under the banner of sustainable finance.
Details of the Green Bond Offerings
The bond auction will feature several classes of green bonds: OR031033 GB, OR280845 GB, and OR180255 GB. Each offering presents investors with a unique opportunity to be part of a sustainable financial initiative. Let’s delve into the key details of each bond class available during this auction.
OR031033 GB Bond Specifics
The OR031033 GB bond offers an attractive fixed nominal interest rate of 8.30%. Investors can expect equal instalments every six months, culminating in a final maturity scheduled for October 3rd, 2033. With a previously issued nominal value of ISK 7,775 million in this category, it has already gained traction in the market, having been admitted to trading on the Nasdaq Iceland exchange.
OR280845 GB Bond Insights
Next in line is the OR280845 GB bond, which features fixed indexed interest and a competitive 3.70% fixed interest rate. This bond is designed to provide equal payments biannually and is set to mature on August 28th, 2045. Notably, this bond class has a past issuance value of ISK 7,850 million also listed on Nasdaq Iceland.
OR180255 GB Bond Overview
Finally, the OR180255 GB bond class offers equal payments every six months and is tied to a fixed indexed interest rate with a maturity date of February 18th, 2055. This class has a considerable history, with bonds previously issued totaling ISK 37,416 million, also admitted to trading on Nasdaq Iceland.
Ensuring a Smooth Auction Process
Fossar Investment Bank hf. is overseeing the issuance, sale, and admission of these bonds as securities for trading on the Nasdaq sustainable bonds market in Iceland. This partnership underscores the commitment to maintaining a robust process for investors.
How to Participate in the Auction
For those looking to invest, bids need to be submitted via email at utbod@fossar.is before the deadline of 17:00 UTC on Tuesday. The settlement for successful transactions is planned for the following week on March 18th.
Contact Information for Further Inquiries
Investors and interested parties may reach out to Snorri Hafsteinn Þorkelsson, CFO, at +354 516 6100 or via email at snorri.hafsteinn.þorkelsson@or.is.
Additionally, Matei Manolescu from Fossar Investment Bank can be contacted at +354 522 4008 or through email at matei.manolescu@fossar.is.
Frequently Asked Questions
What is the purpose of the bond auction?
The bond auction is intended to provide investors with an opportunity to buy sustainable green bonds issued by Reykjavík Energy.
How do I participate in the auction?
Interested investors can submit their bids via email to Fossar Investment Bank before the specified deadline.
What are the maturity dates of the bonds offered?
Each bond has a different maturity date, with the earliest maturing in 2033 and the latest in 2055.
Who can I contact for more information?
You can reach out to Snorri Hafsteinn Þorkelsson or Matei Manolescu for detailed inquiries regarding the auction.
Are these bonds traded publicly?
Yes, all bond classes will be traded on the Nasdaq Iceland exchange, ensuring transparency and accessibility for investors.
