Landsbankinn hf. Concludes Successful Covered Bond Auction
Today, Landsbankinn successfully wrapped up a notable covered bond auction, marking a significant event in its financial activities.
Overview of the Auction Bids
The auction attracted a total of five bids within the series LBANK CB 29, amounting to ISK 1,120 million. The yields for this series ranged from 7.31% to 7.40%. Ultimately, bids totaling ISK 920 million were accepted at a yield of 7.38%. Following this issuance, the total amount in the series will reach ISK 16,540 million.
Insights on LBANK CBI 30
In the series LBANK CBI 30, Landsbankinn received 18 bids totaling ISK 5,780 million. The yield for this series sat between 3.67% and 3.72%. After careful consideration, bids of ISK 4,780 million were accepted at a yield of 3.70%. As a result of this event, the total amount issued in this series will increase to ISK 50,900 million.
Settlement and Ratings
Importantly, the settlement date for these transactions is set for 20 February 2025. The covered bonds issued by Landsbankinn have gained considerable recognition, currently holding an A+ rating with a stable outlook from S&P Global Ratings.
Market Makers and Regulatory Compliance
Several banks play key roles in maintaining market liquidity for these covered bonds. Arion banki, Islandsbanki, and Kvika serve as market makers, ensuring a vibrant trading environment for these financial instruments. It's worth noting that these bonds are issued following a license from the Financial Supervisory Authority (FME) in accordance with Icelandic regulations.
Understanding the Regulatory Framework
The issuance of these covered bonds adheres to standards outlined in act no. 11/2008, as well as FME’s rules no. 190/2023. This compliance highlights Landsbankinn’s commitment to maintaining high standards in its financial operations.
Accessing More Information
For those interested in further details about the bonds and the specific cover pool involved, additional information is available directly on Landsbankinn's website.
Frequently Asked Questions
What were the key statistics from the bond auction?
The auction received bids for LBANK CB 29 and LBANK CBI 30, totaling ISK 1,120 million and ISK 5,780 million, respectively.
What is the significance of the bond ratings?
The A+ rating with a stable outlook from S&P Global Ratings indicates strong financial stability and creditworthiness.
Who are the market makers for these bonds?
Market makers include Arion banki, Islandsbanki, and Kvika, which help facilitate trading and liquidity.
What is the settlement date for these bonds?
The settlement date is set for 20 February 2025.
Where can I find more information about Landsbankinn's bonds?
Additional details can be accessed on Landsbankinn's official website, providing insights about the bonds and associated cover pools.
