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Islandsbanki hf.: Íslandsbanki issues inaugural international covered bond

·2-min read
Islandsbanki hf.
Islandsbanki hf.

Íslandsbanki has today issued a new 5-year covered bond for a total of EUR 300 million.

The issue was launched off Íslandsbanki´s Covered Bond Programme dated 8 April 2022. Priced at a spread of 70 basis points over mid-swap rates, the bond pays an annual coupon of 3% and matures on 20 September 2027.

The transaction was managed by Barclays Bank Ireland PLC and UBS Europe SE.

The issue will be listed on Euronext Dublin and is expected to be rated A by Standard & Poor´s Global Ratings.

For further information please contact:

Margrét Lilja Hrafnkelsdóttir, Investor Relations ir@islandsbanki.is Tel: +354 844 4033.
Edda Hermannsdóttir, Public Relations, pr@islandsbanki.is Tel.: +354 844 4005.

Íslandsbanki IR releases
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About Íslandsbanki
With a history that dates from 1875, Íslandsbanki is an Icelandic universal bank with a strong customer focus. The Bank believes in moving Iceland forward by empowering its customers to succeed - reflecting a commitment to run a solid business that is a force for good in society. Driven by the ambition to be #1 for service, Íslandsbanki’s banking model is led by three business divisions that build and manage relationships with its customers. Íslandsbanki maintains a strong market share with the most efficient branch network in the country, supporting at the same time its customers’ move to more digital services. The Bank operates in a highly attractive market and, with its technically strong foundations and robust balance sheet, is well positioned for the opportunities that lie ahead. Íslandsbanki has a BBB/A-2 rating from S&P Global Ratings. The Bank’s shares are listed on Nasdaq Iceland Main Market.

Disclaimer

This press release may contain “forward-looking statements,” involving uncertainty and risks that could cause actual results to differ materially from results expressed or implied by the statements. Íslandsbanki hf. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. It is the investor's responsibility to not place undue reliance on these forward-looking statements which only reflect the date of this press release. Forward-looking statements should not be considered as guarantees or predictions of future events and all forward-looking statements are qualified in their entirety by this cautionary statement.