Íslandsbanki hf. has today sold 5 and 6 month commercial paper. The total issuance in the series cannot exceed ISK 1.5bn in nominal terms. Offers of ISK 160 million were accepted at a simple rate of 5.25% (price: 97.8035) for the 5 month issue and ISK 140 million at a simple rate of 5.25% (price: 97.4283) for the 6 month issue.
Prior to the auction the total outstanding commercial paper amounted to ISK 4.2bn. Total appetite for the issue amounted to ISK 680m, of which 44% of the offers were accepted. Trading is expected to commence on 13 February 2015 on Nasdaq Iceland.