Fossar fjárfestingarbanki hf. Unveils New Bond Series
Today marks an important milestone for Fossar fjárfestingarbanki hf., as the bank has successfully concluded the issuance of its new bond series, identified as FOS 281026. This series is part of the bank's authorization allowing for a total issuance of up to 12 billion Icelandic Króna.
The FOS 281026 bonds come with a competitive annual interest rate of 9.2%. Investors will benefit from this attractive yield paid biannually until the maturity date set for October 28, 2026. Furthermore, the initial offering comprised bonds valued at 1.5 billion Króna with a yield to maturity expected at 9.48%.
These bonds were conducted through a private placement process. Each bond unit has a nominal value of 20 million Króna, which allows for a streamlined offering exempt from certain extensive disclosure requirements under EU regulations, specifically EU Regulation No. 2017/1129.
Trading Plans for the New Bonds
Fossar fjárfestingarbanki hf. anticipates the listing of these bonds on the Nasdaq Iceland exchange, enhancing their visibility and accessibility to a broader range of investors.
The trading of FOS 281026 is being overseen by the market operations team at Fossar, ensuring a smooth process from issuance to public trading.
Important Documentation and Future Updates
Key documents pertaining to this bond series, including comprehensive terms and conditions, as well as the prospects for trading these bonds on the exchange, will be made available on the official bank website. Prospective investors and interested parties are encouraged to visit www.fossar.is/fjarfestar for further insights.
The anticipated settlement date for the transactions related to the FOS 281026 bonds is slated for October 28, 2024, offering a strategic timeline for investors considering these new financial instruments.
Contact Information for Inquiries
For additional inquiries or detailed information regarding the new bond issuance, investors may reach out to:
Ernir Jónsson
Fossar fjáfestingarbanki
Phone: 832-4002
Email: ernir.jonsson@fossar.is
Ásgrímur Gunnarsson
Fossar fjáfestingarbanki
Phone: 832-4040
Email: asgrimur.gunnarsson@fossar.is
Frequently Asked Questions
What is the interest rate for the FOS 281026 bonds?
The bonds offer an annual interest rate of 9.2%, with payments made twice a year.
What is the maturity date for the new bond series?
The FOS 281026 bonds will mature on October 28, 2026.
How much was issued in the initial offering?
Initially, bonds valued at 1.5 billion Króna were sold.
Where will the bonds be traded?
Fossar intends to list these bonds on the Nasdaq Iceland exchange.
Who can I contact for more information?
Investors can contact Ernir Jónsson or Ásgrímur Gunnarsson at Fossar for more details.
