Íslandsbanki hf. has today concluded an offering of covered bonds.
Total demand amounted to ISK 2,180m.
The CPI-linked issue ISLA CBI 24 was sold for an amount of ISK 600m at a yield of 2.50%. Total offers received amounted to ISK 1,060m ranging from 2.49% - 2.56%. Following the tap issuance, the total amount issued will be ISK 27,100m.
The CPI-linked issue ISLA CBI 30 was sold for an amount of ISK 1,120m at a yield of 2.60%. Total offers received amounted to ISK 1,120m ranging from 2.55% - 2.60%. Following the tap issuance, the total amount issued will be ISK 23,100m.
Trading is expected to commence on 20 September 2018 on Nasdaq Iceland.
The total nominal amount of outstanding covered bonds issued by Íslandsbanki will be to ISK 125,120m after the auction.
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 1,112bn (about EUR8.9bn) 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, Kreditkort 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.