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Islandsbanki hf.: Íslandsbanki issues Tier 2 bonds in ISK

Islandsbanki hf.
Islandsbanki hf.

Íslandsbanki has today concluded the sale of two Tier 2 bonds for ISK 10,520m.

An index linked bond ISB T2i 33 0417 was sold for an amount of ISK 9,020m at a yield of 4.95%. The bond is a zero-coupon bond with quarterly interest payments and a final maturity date on 17 April 2033. The issuer has the right to call the bond at par on 17 April 2028 and on every interest payment date thereafter.

A non-index linked bond ISB T2 33 0417 was sold for an amount of ISK 1,500m at a yield of 8.90%. The bond is a zero-coupon bond with quarterly interest payments and a final maturity date on 17 April 2033. The issuer has the right to call the bond at par on 17 April 2028 and on every interest payment date thereafter.

The bonds will be issued under Íslandsbanki’s USD 2,500m Euro Medium Term Note (EMTN) Programme which enables Íslandsbanki to issue bonds in a broad range of currencies at fixed or floating interest rates. The EMTN Base Prospectus and its supplements are available at https://www.islandsbanki.is/en/landing/about/investor-relations.

The bonds are expected to be listed on the Nasdaq Iceland on 17 October 2022.

The transaction was managed by Íslandsbanki´s Capital Markets.

For further information:
Investor Relations - ir@islandsbanki.is
Public Relations - pr@islandsbanki.is

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About Íslandsbanki
With a history that dates from 1875, Íslandsbanki is an Icelandic universal bank with a strong customer focus. The Bank believes in moving Iceland forward by empowering its customers to succeed - reflecting a commitment to run a solid business that is a force for good in society. Driven by the ambition to be #1 for service, Íslandsbanki’s banking model is led by three business divisions that build and manage relationships with its customers. Íslandsbanki maintains a strong market share with the most efficient branch network in the country, supporting at the same time its customers’ move to more digital services. The Bank operates in a highly attractive market and, with its technically strong foundations and robust balance sheet, is well positioned for the opportunities that lie ahead. Íslandsbanki has a BBB/A-2 rating from S&P Global Ratings. The Bank’s shares are listed on Nasdaq Iceland Main Market.

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.