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Landsbankinn hf.: Covered bond offering results

Landsbankinn hf.
·1-min read

Today, Landsbankinn concluded a covered bond auction where two series were offered for sale.

In total, 21 bids were received in the auction for the total amount of ISK 5,960m.

A total of 3 bids for ISK 740m were received in the series LBANK CB 23 at 2.47%-2.51% yield. No bids were accepted in the series.

A total of 18 bids for ISK 5,220m were received in the series LBANK CB 25 at 3.11%-3.18% yield. Bids in the amount of ISK 4,220m were accepted in the series at 3.15% yield. Following the tap issuance, the total amount issued in the series will be ISK 19,800m.

The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 23 April 2021. Arion banki, Islandsbanki and Kvika act as market makers for covered bonds issued by Landsbankinn. Covered bonds issued by Landsbankinn are rated A- with stable outlook by S&P Global Ratings.

The covered bonds are issued in accordance with a license from the Financial Supervisory Authority (FME), with reference to act. no. 11/2008 and FME‘s rules no. 528/2008. Further information on the bonds and the cover pool is available on Landsbankinn‘s website, www.landsbankinn.is/covered-bonds.