On 7 March Arion Bank bought back $65,000,000 of Notes in addition to accrued interest. The Notes amounted to $747,481,000 when they were issued in January 2016. The Notes are held by Kaupthing, and their issue formed a part of the arrangements for the liberalization of capital controls in Iceland. The outstanding nominal amount after buyback is $100,000,000. The buyback is part of Arion Bank’s liquidity and debt management strategy.
For further information please contact Haraldur Gudni Eidsson of Arion Bank's Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 444 7108.