Landsbankinn offers to purchase any and all 0.5% notes due 2024

By Marisa Wong

Los Angeles, Sept. 5 – Landsbankinn Hf. is inviting holders of its €300 million 0.5% notes due May 20, 2024 (ISIN: XS2121467497) to tender any and all of their existing notes for purchase for cash, according to a Monday press release.

The issuer is offering to purchase the notes at 97.2, plus accrued interest.

The offer will expire at 11 a.m. ET on Sept. 11.

Results will be announced on Sept. 12.

Settlement is expected to occur on Sept. 13.

The tender offer is conditioned on Landsbankinn completing a concurrent offering of new notes.

Holders who participate in the tender offer and wish to subscribe for the new notes may be given priority in allocation of the new notes.

Dealer managers for the tender offer are BofA Securities Europe SA (DG.LM-EMEA@bofa.com; +33 1 877 01057), Citigroup Global Markets Europe AG (+44 20 7986 8969; liabilitymanagement.europe@citi.com), Deutsche Bank AG (+44 20 7545 8011) and Morgan Stanley Europe SE (debt_advisory@morganstanley.com; +44 20 7677 5040).

Kroll Issuer Services Ltd. (attn.: Thomas Choquet; +44 20 7704 0880; landsbankinn@is.kroll.com; https://deals.is.kroll.com/landsbankinn) is the tender agent.

Reykjavik, Iceland-based Landsbankinn provides personal and corporate banking and financial market solutions.

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