The transaction received substantial interest from investors across Europe and was roughly four times oversubscribed, reflecting investors’ strong confidence in the Bank and the Icelandic economy.
The bond is expected to be listed on the Irish Stock Exchange on 12 April 2019. The bond is issued under Íslandsbanki’s USD 2,500,000,000 GMTN Programme, available here.
The bookrunners for the transaction were: BofA Merrill Lynch, Citi, Deutsche Bank and Morgan Stanley.
Simultaneously, the Bank announced an invitation to holders of the Bank’s EUR 500m 1.750% notes which are due on 7 September 2020 (ISIN XS1484148157/148414815) to tender their notes for purchase by the Bank against a cash payment for up to EUR 300m.
The tender offer is subject to the terms and conditions outlined in the Tender Offer Memorandum dated 4 April 2019. The offer is part of Íslandsbanki's continuing efforts to maintain a strong balance sheet position.
The dealer managers for the tender are, again: BofA Merrill Lynch, Citi, Deutsche Bank and Morgan Stanley.
Further information on the tender offer is available in the announcement made public on the Irish Stock Exchange (www.ise.ie) where the bond is listed. Subject to certain selling restrictions, a Tender Offer Memorandum can be obtained from the tender agent: Lucid Issuer Services Limited (e-mail: firstname.lastname@example.org, tel: +44 20 7704 0880).