Íslandsbanki has completed the expansion of Brim’s green and blue bond series, BRIM 221026 GB. The bonds are unsecured and non-indexed, with a maturity date of 22 October 2026. They bear 4.67% interest, paid quarterly, and the principal will be paid in a lump sum upon maturity.
Bonds in the series were sold for ISK 2.5bn nominal value at a yield of 5.10%. Another ISK 2.5bn had been sold previously, bringing total sales to ISK 5bn, the maximum size of the series.
Concurrent with the issue, the company has entered into a currency and interest rate swap agreement in order to cover payment flows and convert it to a fixed rate of 2.0% in euros until maturity.