Islandsbanki accepts tenders for €143.72 million of 1.75% notes

By Sarah Lizee

Olympia, Wash., Dec. 9 – Islandsbanki hf. announced the results of its tender offer for any and all of its €200 million of outstanding 1.75% notes due Sept. 7, 2020 that expired at noon ET on Dec. 6.

The bank said it received valid tenders of €143.72 million, all of which were accepted for purchase.

Following settlement, which was set for Dec. 11, €56.28 million of the notes will remain outstanding.

Pricing will be set using a purchase yield of negative 0.3% for a purchase price of 101.522 assuming a settlement date of Dec. 11.

Tender instructions had to be submitted for a minimum principal amount of at least €100,000 and in integrals of €1,000 after that.

NatWest Markets plc (+44 20 7678 5282 or liabilitymanagement@natwestmarkets.com) and UBS Europe SE (+44 20 7568 1121 or ol-liabilitymanagement-eu@ubs.com) are the dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or islandsbanki@lucid-is.com) is the tender agent.

Islandsbanki, together with its subsidiaries, provides various banking and financial services to households, corporations and investors. It is based in Kopavogur, Iceland.

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