Arion Bank: Covered bond offering results Today
Post# of 301275
Today Arion Bank hf. concluded the sale of three covered bond series.
The total demand in the issue amounted to ISK 2,780 million and 23 bids were received.
A new inflation-linked issue ARION CBI 25 attracted 16 bids of ISK 1,900 million in total at a yield of 3.05%-3.22%. Bids for ARION CBI 25 amounting to ISK 1,780 million at a yield of 3.20% were accepted. In addition the series was tapped for ISK 960m for bond lending purposes in relation to market makers. The size of the series following the issuance will be ISK 2,740 m.
The fixed rate issue ARION CB 22 attracted 4 bids of ISK 380 million in total at a yield of 5.33% - 5.37%. All bids were rejected at this time.
The fixed rate issue ARION CB 19 attracted 3 bids of ISK 500 million at 5.30%-5.32% yield. Bids for ARION CB 19 amounting to ISK 500 million at a yield of 5.32% were accepted. Following the tap issuance, the total amount issued will be ISK 2,540 m.
The issued bonds were tap issues of existing covered bond series that have been admitted to trading on Nasdaq Iceland and a new series that will be admitted to trading on Nasdaq Iceland on 12 April 2017.
According to Arion Bank’s issuance schedule the next auction of covered bonds is on 3 May 2017.
In total Arion Bank has issued ISK 69,000 m of covered bonds.
For further information please contact Haraldur Gudni Eidsson of Arion Bank's Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 856 7108.
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