Islandsbanki launches offer to buy 1.125% notes due April 2022

Chicago, Jan. 18 – Islandsbanki hf started a tender offer on Monday for its €300 million 1.125% notes due April 12, 2022 (ISIN: XS1980828997), according to an announcement.

The bank is offering to buy any and all of the notes.

Pricing will be based on a negative 25 basis points purchase yield. If settlement takes place on Jan. 26, as planned, the notes would be repurchased at 100.287.

The bank plans to offer a new series of euro-denominated fixed-rate sustainability instruments under its $2.5 billion global medium-term note program.

The tender offer is subject to the successful completion of the sale of the new notes.

Tendering noteholders may receive priority in the allocation of the new notes.

The deadline is 11 a.m. ET on Jan. 24. Instructions are irrevocable.

Dealer managers for the tender offer are BofA Securities Europe SA (+33 1 877 01057, DG.LM_EMEA@bofa.com), Deutsche Bank AG (+44 20 7545 8011), Morgan Stanley Europe SE (+44 20 7677 5040, liabilitymanagementeurope@morganstanley.com) and Nomura Financial Products Europe GmbH (+44 20 7103 2454, liability.management@nomura.com).

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, islandsbanki@lucid-is.com).

The bank is based in Reykjavik, Iceland.

© 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.