Upcoming green bond auction 21 February
Upcoming green bond auction 21 February
Íslandsbanki hf. will be offering senior preferred bonds in a closed auction on Tuesday 21 February 2023.
The series ISB GB 27 1122 will be offered.
ISB GB 27 1122 is a green fixed rate bond series with an annual coupon of 7.70% and repayment of nominal on 22 November 2027.
The offering is a Dutch auction where the bond will be sold at the highest accepted yield. The Bank reserves the right to accept or reject offers in part or in whole.
Expected settlement date is 28 February 2023.
The bonds will be issued under the Bank’s EMTN programme and are expected to be admitted to trading on Nasdaq Iceland on 28 February 2023.
An amount equal to the net proceeds of the issue will be used to finance or refinance, in whole or in part, the Issuer's investments in Eligible Assets (being Green Projects), as further described in the Issuer’s Sustainable Financing Framework available on the Issuer’s website: https://www.islandsbanki.is/en/product/about/funding.
The auction will be managed by Íslandsbanki’s Fixed Income Sales. Offers shall be submitted by e-mail to vbm@isb.is before 16:00 p.m. on 21 February 2023.