Islandsbanki hf. : Íslandsbanki sells commercial paper
ET | Source:Íslandsbanki hf.
Íslandsbanki hf. has today sold 2,3,5 and 6 month commercial paper. The total
issuance in each series cannot exceed 1,500,000,000 ISK in nominal terms. The
auction was structured so that bidders submitted bids at predetermined rates
(prices). The 2 month commercial paper was offered at a simple rate of 6.00%
(price: 99.1899), the 3 month commercial paper at a simple rate of 6.10% (price:
98.4650), the 5 month commercial paper at a simple rate of 6.25% (price:
97.6106) and the 6 month commercial paper at a simple rate of 6.30% (price:
Total bids for a nominal value of ISK 310m were accepted for the 2 month
commercial paper, ISK 920m for the 3 month commercial paper and ISK 300m for the
6 month commercial paper.
The commercial paper was sold to a broad group of investors. Trading is expected
to commence on 27 June2013 on the Nasdaq OMX Iceland.
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