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Íslandsbanki expands Brim’s green and blue bond series

Another ISK 2.5bn had been sold previously

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.