Exploring Reykjavík Energy's Upcoming Green Bond Auction
Reykjavík Energy's Green Bond Auction Announcement
Reykjavík Energy (Orkuveita Reykjavíkur) is set to conduct a significant bond auction in the near future, presenting an exciting opportunity to invest in green bonds. This auction will feature a variety of bonds, aimed primarily at sustainable and environmentally friendly projects. With a rising interest in responsible investing, this auction is anticipated to draw considerable attention from investors looking to support green initiatives.
Details of the Bonds on Offer
Among the bonds available during this auction are three different classes designed to cater to various investor preferences. First, we have the OR031033 GB, which offers a competitive fixed nominal interest rate of 8.30%. Investors can expect to receive equal instalments every six months, with a final maturity date set for October 3rd, 2033. A substantial sum of ISK 9,950 million has previously been issued in this bond class, and it is also actively traded on Nasdaq Iceland.
OR280845 GB: Environmental Impact with Indexed Benefits
The OR280845 GB is another noteworthy addition in this auction. It features fixed indexed interest and also pays equal payments every six months. The maturity date for this bond is August 28th, 2045, with a fixed interest rate of 3.70%. It is redeemable in 2037, and a significant nominal value of ISK 9,000 million has been recorded for issuance within this class, showcasing its popularity among investors.
Future-Focused OR180255 GB
Investors will also find the OR180255 GB appealing due to its long-term benefits. This bond expresses a commitment to sustainability while providing equal payments every six months until its maturity on February 18th, 2055. With ISK 39,421 million already issued in this class and its presence in the Nasdaq Iceland trading platform, it reflects a growing interest in green finance.
The Role of Fossar Investment Bank
Fossar Investment Bank hf. plays a crucial role in this endeavor by overseeing the issuance and sale of these bonds. Their expertise ensures that the bonds are not only effectively marketed but also that they adhere to the standards of the Nasdaq sustainable bonds market in Iceland. Fossar’s involvement adds credibility and assurance for potential investors looking to back a reliable institution.
Submission and Contact Information
For those interested in participating in this auction, bids should be sent to the email provided, utbod@fossar.is, before the deadline of UTC 17:00 on the day of the auction. The transactions from this auction are expected to be settled on October 15, 2025, providing a timely window for investors to act.
Should you have any queries or require further information, please reach out to the following contacts:
Snorri Hafsteinn Þorkelsson, CFO, can be reached at +354 516 6100 or via email at snorri.hafsteinn.þorkelsson@or.is.
For specific inquiries regarding the bond auction, Matei Manolescu from Fossar Investment Bank is available at +354 522 4008 or can be emailed at matei.manolescu@fossar.is.
Frequently Asked Questions
What is the purpose of the bond auction by Reykjavík Energy?
The bond auction aims to provide funding for sustainable and environmentally-friendly projects through the issuance of green bonds.
What types of bonds are being offered in the auction?
The auction includes three classes of bonds: OR031033 GB, OR280845 GB, and OR180255 GB, each with varying interest rates and maturity dates.
How can I participate in the bond auction?
Investors interested in participating must submit their bids via email to utbod@fossar.is before the specified deadline.
Who manages the bond issuance?
Fossar Investment Bank hf. oversees the entire process, ensuring proper issuance and adherence to marketplace regulations.
When are the transactions for the auction expected to settle?
The transaction settlements for the auction are scheduled for October 15, 2025, following the auction date.
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