OR Auctions Indexed and Nominal Bonds on May 22nd

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| Source: Orkuveita Reykjavíkur
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Reykjavík, 2017-05-16 18:17 CEST (GLOBE NEWSWIRE) -- Monday May 22nd 2017 Orkuveita Reykjavíkur will conduct an auction of new bonds in three bonds issues as can be seen below, they have all been admitted for trading on Nasdaq Iceland.

Category OR090546: Indexed annuities to almost 29 years. Previously issued bonds with a nominal value of ISK 8,531,724,833.

Category OR090524: Indexed annuities to almost 7 years. Previously issued bonds with a nominal value of ISK 1,688,000,000.

Category OR011222: coupons for almost 5 and a half years. Previously issued bonds with a nominal value of ISK 850,000,000

The investment banking division at Arion Bank is managing the issue and will introduce it to possible investors. The issue will be closed with a so-called "Dutch Method", where all bonds will be sold at a highest coupon accepted for each tranche. Orkuveita Reykjavíkur reserves the right to accept offers partially or in full, or refuse all offers.

Results of the bond auction will be officially announced the next business day.

         Contacts:
         
         Birgir Guðfinnsson, investment banking division at Arion Bank hf.
         Tel. 444-7337, e-mail: verdbrefamidlun@arionbanki.is
         
         Brynja Kolbrún Pétursdóttir, Head of Treasury, Planning and Analysis.
         Tel. 516-6100, e-mail: brynja.kolbrun.petursdottir@or.is
         
         Ingvar Stefánsson, CFO.
         Tel. 516-6100, e-mail: ingvar.stefansson@or.is