Iceland offers to buy back ISK 154 billion bonds due 2018 by auction

By Susanna Moon

Chicago, June 7 – Iceland decided to forgo holding a Treasury bond auction on Friday and will instead offer to buy back its ISK 154 billion of bonds due Oct. 9, 2018 by way of auction.

The total amount of accepted bids may range up to ISK 15 billion.

“The purpose of the buyback is to reduce the size of the [note series] and thereby reduce the Treasury’s refinancing risk at maturity,” according to a government notice.

Settlement has been set for June 14.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.