By William Gullotti
Buffalo, N.Y., Nov. 15 – Islandsbanki hf sold ISK 9.08 billion of five-year green senior preferred bonds in two parts at auction, according to a press release on Tuesday.
The bonds will be issued under the bank’s euro medium-term note program.
The equal-payment floating-rate series was issued at a spread of 125 basis points over one-month Reibor, totaling ISK 3.82 billion.
The fixed-rate series has a 7.7% coupon and totals ISK 5.26 billion.
Proceeds will be used to finance or refinance eligible investments and assets in accordance with the bank’s sustainable financing framework.
The bonds are expected to be listed on Nasdaq Iceland effective Nov. 22.
The bank is based in Reykjavik, Iceland.
| Issuer: | Islandsbanki hf
|
| Amount: | ISK 9.08 billion
|
| Issue: | Green senior preferred bonds
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 22
|
| Listing date: | Nov. 22
|
| Marketing: | Auction
|
|
|
| Floating-rate bonds
|
| Amount: | ISK 3.82 billion
|
| Issue: | ISB GBF 27 1122
|
| Maturity: | Nov. 22, 2027
|
| Spread: | One-month Reibor plus 125 bps
|
|
|
| Fixed-rate bonds
|
| Amount: | ISK 5.26 billion
|
| Issue: | ISB GB 27 1122
|
| Maturity: | Nov. 22, 2027
|
| Coupon: | 7.7%
|
|
|
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