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Kvika banki hf.: Auction of green bonds

·1-min read

Kvika will offer green bonds in a new series, KVIKA 24 1216 GB, for sale on Thursday 9th of December. The bonds will be issued under Kvika’s Green Financing Framework and listed on the Nasdaq Iceland exchange. The bonds pay a quarterly interest of 3-month REIBOR plus a spread. Principal is repaid in one payment at maturity, 16th of December 2024.

The offering will be a Dutch auction, all bonds will be sold at the highest accepted spread on 3-month REIBOR. Expected issuance now is nominal ISK 2 billion and total issuance in the series will be limited to ISK 5 billion.

Expected settlement date is Thursday 16th of December 2021.

Capital Markets at Kvika manages the auction and bids will be received through the email until 16:00 GMT on Thursday the 9th of December.

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