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Kvika banki hf.: Increase in issue of KVB 20 01

Kvika banki hf.
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Today Kvika banki hf. concluded sale of nominal ISK 2,840 million in the bond series KVB 20 01.

The bond series KVB 20 01 are senior unsecured bonds who mature in October 2023, pay variable interests REIBOR 1 month with 0,85% spread and are sold at 99,25 (clean). The bonds are puttable by investors at any time. Investor‘s exercise of the put results in buyback by the issuer with a settlement date on the next interest day eight months after the issuer is noticed of exercise. Prior to the today sale the bank had issued ISK 2,160 million in the series and as of today the total issue size is ISK 5,000 million. Total issue size in the series is limited to ISK 5.000 million.

The new bonds in the series will be admitted to trading on Nasdaq Iceland in next week.

For further information please contact Halldór Karl Högnason, Head of Treasury, +354 540 3200.