Iceland buys back ISK 15.2 billion more bonds due 2018 via auction

By Susanna Moon

Chicago, Aug. 18 – Iceland said it accepted bids to repurchase another ISK 15.2 billion of its ISK 139 billion series RIKH 18 1009 bonds due Oct. 9, 2018 at an auction held Friday.

The price allocated from 99.98 to 99.99, and there were five bids for ISK 37.2 billion, according to a government notice.

The auction was structured as a multiple-price auction, with bids accepted according to the price submitted, the notice said.

As announced Aug. 16, Iceland chose to buy back bonds in lieu of holding an auction of Treasury bonds to reduce its refinancing risk.

Iceland said on June 9 that it had repurchased ISK 15 billion of its ISK 154 billion bonds due Oct. 9, 2018 by way of auction at prices that allocated from 99.98 to 99.99.

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