Landsbankinn buys ISK 1.96 billion covered bonds in exchange offer

By Marisa Wong

Los Angeles, Nov. 2 – Landsbankinn hf. announced the results of its series LBANK CB 23 inflation-linked bond exchange offer.

As announced on Tuesday, holders of the series LBANK CB 23 bonds could sell those inflation-linked covered bonds as part of an exchange for new covered bonds. The issuer offered two non-indexed series of covered bonds, LBANK CB 27 and LBANK CB 29, and one inflation-indexed series, LBANK CBI 28, at auction on Wednesday.

Holders of the existing covered bonds could sell their bonds for the new bonds at a predefined clean price of 99.832.

The covered bond exchange offer resulted in Landsbankinn buying ISK 1.96 billion of the series LBANK CB 23 bonds, according to a Thursday press release.

Settlement will take place on Nov. 8.

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

© 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.