Kvika Banki hf. Reports Tender Offer Results for SEK and NOK Notes

Author: Owen Jenkins Updated: 10-09-2025 07:15 AM

Kvika Banki hf. Announces Tender Offer Results for Notes

Kvika Banki hf. has officially revealed the outcomes of its recent tender offer targeting its outstanding senior unsecured floating rate notes. These notes include SEK 566,000,000 due between 2023 to 2026, alongside NOK 750,000,000 with similar terms. The offer aimed to repurchase these notes at an attractive purchase price of 102.150%, which also covered accrued and unpaid interest.

Details of the Tender Offer

The tender offer commenced on an earlier date in October and directed its focus on buying back notes for a total nominal amount of up to SEK 750 million. The deadline for submissions was set, and as of the notified expiration time, a total of SEK 756,000,000 in nominal notes was successfully tendered. Thus, Kvika Banki has decided to accept all valid tender submissions, confirming an encouraging response from noteholders.

Remaining Outstanding Notes

Following the completion of this tender offer, the residual outstanding amounts of the SEK and NOK notes will be SEK 227,000,000 and NOK 333,000,000, respectively. This adjustment reflects a successful strategy for managing the bank’s liabilities in the current financial landscape.

Settlement Expectations

Kvika Banki anticipates that settlement of this tender offer will take place shortly, ensuring a swift transition for those involved. This rapid conclusion aligns with their strategic focus on liquidity and flexibility within the market.

Role of Nordea Bank Abp

Taking on the responsibility of dealer manager for this tender offer is Nordea Bank Abp, further demonstrating the bank's commitment to cooperation and partnership within the financial sector. Stakeholders interested in more details could reach out to Nordea at an identified contact point.

Contact Information

Should any queries arise regarding this announcement, they should be directed toward Halldór Karl Högnason, the Head of Treasury at Kvika Banki. He is available to provide clarity and additional insights into the tender offer process and its implications.

Frequently Asked Questions

What was the objective of Kvika Banki's tender offer?

The primary goal was to buy back a significant portion of its outstanding SEK and NOK notes to enhance its financial position.

What was the purchase price for the notes?

The notes were offered for repurchase at a price of 102.150%, plus accrued and unpaid interest.

Who managed the tender offer?

Nordea Bank Abp acted as the dealer manager for Kvika's tender offer.

When is the expected settlement date?

Settlement is expected to happen shortly after the completion of the tender offer.

How much of the notes were successfully tendered?

A total of SEK 756,000,000 of the notes were validly tendered in response to the offer.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

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