Landsbankinn hf.'s Latest Covered Bond Auction Results
Recently, Landsbankinn hf. wrapped up a successful covered bond auction, presenting two distinct series for investors. The event attracted significant interest, indicating robust market confidence in the bank's offerings.
Details of the Auction
A total of six submissions were made for the LBANK CB 29 series, amounting to ISK 2,880 million. The yields ranged from 7.51% to 7.56%, showcasing competitive market rates. Ultimately, bids totaling ISK 1,980 million were accepted at a yield of 7.52%, which will culminate in a total issuance of ISK 19,560 million following this tap issuance.
Analysis of LBANK CBI 31
In a parallel move, the LBANK CBI 31 series also generated considerable interest, receiving six bids for ISK 2,460 million. The accepted bids were set at a yield of 3.60%, which is within the range of 3.57% to 3.60%. After this issuance, the total volume for the LBANK CBI 31 series will reach ISK 10,840 million.
Settlement Information
The expected settlement date for these bonds is set for 20 May 2025, offering investors ample time to prepare for this opportunity.
Market Makers and Ratings
Landsbankinn benefits from a solid backing as Arion banki, Islandsbanki, and Kvika serve as market makers for these covered bonds. The quality of these bonds is further underscored by their A+ rating from S&P Global Ratings, signifying a stable outlook that enhances their appeal among investors.
Regulatory Compliance and Information
These covered bonds are issued under a license from the Financial Supervisory Authority (FME), adhering to the regulatory act no. 11/2008 and FME's rules no. 190/2023. For those looking for more detailed insights regarding the bonds and the cover pool, comprehensive information is accessible on Landsbankinn's official website.
Contact and Announcement
This announcement is made available by Landsbankinn hf., providing crucial data that may qualify as inside information under the Market Abuse Regulation (EU) 596/2014 (“MAR”). It is formally issued by Hreiðar Bjarnason, Chief Financial Officer of Landsbankinn hf., reflecting the bank's commitment to transparency and investor communication.
Frequently Asked Questions
What series of covered bonds did Landsbankinn offer?
Landsbankinn offered two series, LBANK CB 29 and LBANK CBI 31, during its recent auction.
What were the yields for LBANK CBI 31?
The yields for LBANK CBI 31 were between 3.57% and 3.60%, with bids accepted at 3.60% yield.
Who are the market makers for these bonds?
The market makers for Landsbankinn's covered bonds are Arion banki, Islandsbanki, and Kvika.
What is the total issuance amount for LBANK CB 29 after this auction?
The total amount issued for LBANK CB 29 will be ISK 19,560 million following the current tap issuance.
Where can I find more information about the bonds issued?
More details about the bonds and the associated cover pool can be found on Landsbankinn's official website.
