Íslandsbanki hf. will be holding an auction on covered bonds on Wednesday 30 January 2019.
The non-index linked series ISLA CB 21 and ISLA CB 23 and the CPI-linked series ISLA CBI 28 will be offered to investors.
ISLA CB 21 is a new fixed rate series maturing on 21 September 2021. The bond bears a 5,75% nominal interest paid semi-annually.
ISLA CBI 28 is a new amortizing CPI-linked series maturing on 11 August 2028. The bond bears a 2,2% nominal interest.
The series are expected to be listed on Nasdaq Iceland on 11 February 2019.
Please note that, in respect of bids accepted in the auction:
Íslandsbanki will be accepting ISLA CB 19 and ISLA CBI 19 as payment towards the purchase of bonds in the above-mentioned series, ISLA CB 21, ISLA CB 23 and ISLA CBI 28.
Íslandsbanki will purchase ISLA CB 19 at the clean price of 100.45, which is equivalent to a 4.40% yield, and Íslandsbanki will purchase ISLA CBI 19 at the clean price of 100, which is equivalent to a 2.84% yield.
The value of ISLA CB 19 and ISLA CBI 19, with accrued interest, will constitute payment towards the bonds issued 11 February 2019.
The intention to tender ISLA CB 19 and/or ISLA CBI 19 as payment in the auction shall be submitted along with the offer.
The auction will be managed by Íslandsbanki’s Fixed Income Sales. Offers shall be submitted by e-mail to vbm@isb.is before 16:00 p.m. on 30 January 2019.
For further information: Investor Relations - Gunnar S. Magnússon, ir@islandsbanki.is and tel: +354 440 4665.
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About Íslandsbanki A leader in financial services in Iceland, Íslandsbanki is a universal bank with total assets of ISK 1,163bn (about EUR8.5bn) and a 25% - 50% market share across all domestic business segments. Building on over 140 years of servicing key industries, Íslandsbanki has developed specific expertise in tourism, seafood and energy related industries. Driven by the vision to be #1 for service, Íslandsbanki’s relationship banking business model is propelled by three business divisions that manage and build relationships with the Bank’ s customers. Íslandsbanki has developed a wide range of online services such as the Íslandsbanki and Kass apps, enabling customers to do their banking whenever and wherever. At the same time, the Bank continues to operate the most efficient branch network in Iceland through its strategically located 14 branches. For the fifth consecutive year, Íslandsbanki led the Icelandic Customer Satisfactory Index for banks in 2017 and was also named Best Bank of Iceland in 2018 by Euromoney and Bank of the Year in 2017 in Iceland by the Banker. Íslandsbanki has a BBB+/A-2 rating from S&P Global Ratings and BBB/F3 from Fitch Ratings and is the only bank in Iceland rated by two international rating agencies. www.islandsbanki.is
Disclaimer This press release may contain “forward-looking statements,” involving uncertainty and risks that could cause actual results to differ materially from results expressed or implied by the statements. Íslandsbanki hf. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. It is the investor's responsibility to not place undue reliance on these forward-looking statements which only reflect the date of this press release. Forward-looking statements should not be considered as guarantees or predictions of future events and all forward-looking statements are qualified in their entirety by this cautionary statement.
