Íslandsbanki hf.: Upcoming senior preferred bond offering in ISK
Íslandsbanki hf.: Upcoming senior preferred bond offering in ISK
Íslandsbanki hf. will be offering two series, ISB 28 1221 and ISB 36 1114 GB, in a closed auction on Tuesday 21 January 2025.
ISB 28 1221 is a fixed rate index-linked senior preferred bond series with a fixed 4.48% annual coupon and was originally issued in December 2023. The size of the series is ISK 14,260m and the final maturity date is 21 December 2028.
ISB 36 1114 GB is a green inflation-linked senior preferred bond series with a fixed 3,50% annual coupon and was originally issued in November 2024. The size of the series is ISK 4,000m and the final maturity date is 14 November 2036.
The bonds will be offered in a single-price auction, where all accepted offers will be awarded at the highest accepted yield. Íslandsbanki reserves the right to accept or reject offers in part or in whole.
Expected settlement date is 28 January 2025.
An amount equal to the net proceeds of the series ISB 36 1114 GB 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 Funding Framework available on the Issuer’s website: https://www.islandsbanki.is/en/article/sustainable-funding-framework.
The bonds will be issued under the Bank’s EUR 2,500m Euro Medium Term Note (EMTN) Programme. The EMTN Base Prospectus is available here: EMTN programme
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 January 2025.