Landsbankinn accepts all €132.03 million tendered 0.5% notes due 2024

By Mary-Katherine Stinson

Lexington, Ky., Sept. 12 – Landsbankinn Hf. gave results of its any-and-all cash tender offer for its €300 million 0.5% notes due May 20, 2024 (ISIN: XS2121467497), according to a Monday press release.

The company will accept for purchase all €132,033,000 notes tendered in the offer.

As previously reported, the issuer will purchase the notes at 97.2, plus accrued interest.

The offer expired at 11 a.m. ET on Sept. 11.

Settlement is expected to occur on Sept. 13.

After settlement, €167,967,000 will remain outstanding.

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

Holders who participated in the tender offer and wished 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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