Reykjavík Energy Green Bond Auction Details
Reykjavík Energy (Orkuveita Reykjavíkur) is gearing up for a significant bond auction, presenting an opportunity for investors to engage in sustainable financing. The auction is set to take place on a Tuesday in late October, featuring bonds from the green bond categories: OR280845 GB, OR180255 GB, and OR031033 GB.
Bond Types and Features
The OR031033 GB bond offers a generous 8.30% fixed nominal interest rate, with equal instalments paid semi-annually. This bond matures on October 3rd, 2033, and has previously seen substantial issuances totaling ISK 4,630 million in nominal value.
Next is the OR280845 GB bond, which has a fixed interest rate of 3.70%, is indexed and also offers payments every six months. Its maturity date is set for August 28th, 2045, and previously issued bonds in this category reached ISK 3,430 million.
Lastly, the OR0180255 GB bond features a fixed interest rate of 2.6% indexed to inflation. It has a longer maturity date of February 18th, 2055, and previously issued bonds reached an outstanding ISK 35,766 million. This diversity among the bonds presents attractive options for a broad range of investors.
Oversight and Bidding Process
The entire issuance and sale process of these bonds is overseen by Fossar Investment Bank hf., a reputable entity tasked with the management of the bonds' admission to trading on the Nasdaq sustainable bonds market in Iceland. Their expertise ensures a streamlined and professional approach to the offering.
How to Bid
Potential bidders are required to submit their bids through a specified email address before the deadline, which is set for UTC 17:00 on the auction date. Successful transactions will be processed shortly thereafter, culminating in a settlement on a date the following week.
Contacts for Further Information
For those looking to get more insights or assistance regarding the auction, the company has provided contact details for their key representatives. Snorri Hafsteinn Þorkelsson, CFO of Reykjavík Energy, can be reached at +354 516 6100, and he is also available via email for inquiries.
Additionally, Matei Manolescu from Fossar Investment Bank can be contacted at +354 522 4008 for further detailed inquiries about the bonds and the auction process. These contacts are pivotal for investors needing clarity on the bidding process and bond features.
Frequently Asked Questions
What is the purpose of the green bond auction?
The green bond auction is intended to raise funds for sustainable projects, aligning with Reykjavík Energy's commitment to environmental responsibility.
What types of bonds will be available?
Investors can expect to see several types of green bonds, including fixed-interest options and indexed bonds.
How is the auction structured?
Bids are to be submitted electronically before the deadline, and transactions will be settled shortly after the auction concludes.
Who oversees the auction process?
The auction is overseen by Fossar Investment Bank hf., which manages the bonds' issuance and trading registration.
Where can I get more information?
For additional information, interested parties can contact company representatives via phone or email as provided.
