Íslandsbanki hf. has concluded an auction of one non-indexed and two CPI-linked issues of covered bonds. The CPI-linked issue ISLA CBI 20 was tapped for an amount of ISK 920m at a real yield of 3.35% and ISLA CBI 26, was tapped for an amount of ISK 1,880m at a real yield of 3.43%.
Following these latest issues, the total amount issued in ISLA CBI 20 reached ISK 4.12bn and the total amount issued in ISLA CBI 26 now stands at ISK 4.24bn. In total, Íslandsbanki has now issued covered bonds amounting to ISK 39.35bn since its inaugural issue in December 2011.
Total appetite for the tap issue amounted to ISK 2.88bn, of which 97% of the offers were accepted. Trading is expected to commence on 19 June 2015 on Nasdaq Iceland. Market making for all of Íslandsbanki's covered bond issues is in the hands of MP bank.