Iceland’s Islandsbanki buys back €47.7 million 3% with new deal funds

By Wendy Van Sickle

Columbus, Ohio, July 20 – Islandsbanki bought back €47.7 million of its 3% notes due May 2016 using proceeds from a new offering of €100 million of 2 7/8% fixed-rate notes due 2018 on Monday.

Deutsche Bank was lead manager for the new deal.

The new notes were placed with investors in Scandinavia and continental Europe, according to a notice. The notes were issued under Íslandsbanki’s $750 million global medium term note program.

Earlier in the day, Islandsbanki said it intended to buy back “a significant part” of the 3% notes.

Islandsbanki is a bank with headquarters in Reykjavik, Iceland.

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