Arion Bank intends to sell dollar-denominated tier 1 notes

By Devika Patel

Knoxville, Tenn., Feb. 13 – Arion Bank hf plans to conduct a dollar-denominated additional tier 1 transaction, according to a press release.

The notes will have a stand-alone and consolidated 5.125% CET1 trigger with equity conversion.

The notes will be rated by S&P Global Ratings, and the bank expects the rating to be BB.

A series of fixed income investor meetings will commence on Friday.

Arion is a Reykjavik, Iceland-based bank.

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