Íslandsbanki issues SEK 500 million 10NC5 Tier 2 bond

Íslandsbanki has today issued a 10NC5 SEK 500 million Tier 2 bond at a spread of 3 month STIBOR + 390. The bond is expected to be rated BBB- by S&P Global Ratings which is investment grade


This is the third subordinated issue from Íslandsbanki, with the Bank having previously issued its first SEK 750 million Tier 2 bond in November 2017 and its second SEK 500 million Tier 2 bond in August 2018.

Through this transaction, Íslandsbanki has reached its Tier 2 target which is an important milestone in optimising the Bank's long-term capital composition. As in previous Tier 2 transactions, Nordic investors were predominant in the order book, which underlines Íslandsbanki’s strong position in the Nordic financial markets. 

The bond will be issued under Íslandsbanki’s USD 2,500m Global Medium Term Note (GMTN) Programme which enables Íslandsbanki to issue bonds in a broad range of currencies at fixed or floating interest rates. The GMTN Base Prospectus and its supplements are available at https://www.islandsbanki.is/en/landing/about/investor-relations.

The bond is expected to be listed on the Irish Stock Exchange on 26 June 2019.

Joint bookrunners on the transaction were Danske Bank, Nordea and Swedbank.

For further information:


Gunnar Magnússon


Investor Relations

Send e-mail+354 440 4665

Edda Hermannsdóttir


Communications

Send e-mail+354 440 4005