Íslandsbanki hf. has today sold 6 month commercial paper. The total issuance in the series cannot exceed ISK 1.5bn in nominal terms. Offers of ISK 180 million were accepted at a simple rate of 5.25% (price: 97.3730).
Prior to the auction the total outstanding commercial paper amounted to ISK 4.5bn. Total appetite for the issue amounted to ISK 400m, of which 45% of the offers were accepted. Trading is expected to commence on 20 March 2015 on Nasdaq Iceland.