Reykjavik, 21 December, 2018 – Nasdaq (Nasdaq: NDAQ) today announced that Nasdaq Iceland welcomes the City of Reykjavik as its first green bond issuer on the Exchange’s sustainable bond market. The bond was issued on 17 December and is sized at ISK 4.1 billion with a maturity of 30 years. Reykjavik intends to issue further bonds in the bond class in the coming years and add market making services.  

The purpose of the issuance is to finance the City of Reykjavik’s green investment projects in accordance with the Green Bond Framework. Green bonds can only be used to finance projects within the Green Bond Framework that meet strict requirements. Investments that could meet the requirements of the Green Bond Framework include pedestrian and cycle pathways, introduction of LED lights for street lighting and electric vehicle charging stations.

“This is a milestone for Reykjavik.”, said Dagur Eggertsson, Mayor of Reykjavik. “Our aim is to constantly strengthen our position as a green city which will be carbon neutral by 2040. We approved the Green Bond Framework where CICERO (Center for International Climate Research) rated the overall assessment of the project types that will be financed by the green bonds Dark Green and the overall assessment of the governance structure of Reykjavik got the rating of Excellent. Furthermore I am very happy about the anticipation and interest we have received from investors. That is indeed a very promising start for this project and for us to become a sustainable city.”

“Sustainability is a key driver of economic success for countries and cities and the City of  Reykjavik’s first green bond issuance is a step in the right direction.” said, Magnus Hardarson, Head of Exchange Trading and Listing Services at Nasdaq Iceland. “This marks the first listing on Nasdaq Iceland’s sustainable bond market. Given the great interest the issuance received we look forward to building this market for green bonds. It is an honour to welcome our capital city to lead the way on our sustainable bond market.”

Fossar Markets oversees the bond’s issuance as well as investor relations.

 

#

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home over 4000 total listings with a market value of approximately $15 trillion. To learn more, visit: http://business.nasdaq.com

Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB and Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.

Cautionary Note Regarding Forward-Looking Statements

The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.

 

         MEDIA:
          Kristín Jóhannsdóttir
          +354 868 9836
          kristin.johannsdottir@nasdaq.com