Landsbankinn Concludes Successful Covered Bond Auction
Today, Landsbankinn wrapped up a covered bond auction, offering one series for sale that demonstrated strong interest from the market.
Auction Highlights
The auction attracted a total of 10 bids amounting to ISK 2,940 million for the series LBANK CBI 30, with yields varying from 3.77% to 3.84%. Ultimately, bids totaling ISK 2,440 million were accepted at a yield of 3.83%. As a result of this tap issuance, the total amount issued in the series will increase to ISK 27,100 million.
Settlement Details
The auction's settlement date is scheduled for August 26, 2024.
Market Makers and Ratings Overview
Arion banki, Islandsbanki, and Kvika are serving as market makers for the covered bonds issued by Landsbankinn. These bonds have been awarded an A+ rating with a stable outlook from S&P Global Ratings, highlighting the issuer's strong financial position and creditworthiness.
Regulatory Compliance Information
The issuance of these covered bonds is conducted under a license from the Financial Supervisory Authority (FME), in accordance with act no. 11/2008 and FME's rules no. 190/2023. This regulatory framework guarantees that the bonds adhere to high standards of financial transparency and investor protection.
For more information regarding the bonds and the cover pool, interested parties can reach out to Landsbankinn's customer service or visit their official website.
Contact Details
If you require further assistance, feel free to contact Landsbankinn directly. Their commitment to providing pertinent information reflects their dedication to transparency and investor relations.
Frequently Asked Questions
1. What was the total amount bid in the Landsbankinn auction?
The total amount bid in the auction was ISK 2,940 million.
2. What yield was accepted for the covered bonds?
The yield accepted for the covered bonds was 3.83%.
3. Who acts as market makers for Landsbankinn’s covered bonds?
Arion banki, Islandsbanki, and Kvika are the market makers for Landsbankinn’s covered bonds.
4. What rating do the covered bonds hold?
The covered bonds issued by Landsbankinn hold an A+ rating with a stable outlook from S&P Global Ratings.
5. When is the settlement date for the bonds?
The settlement date for the bonds is scheduled for August 26, 2024.
