Funding
The Bank is mainly deposit funded but it is an active bond issuer in domestic and international markets
Funding
Íslandsbanki is one of the largest issuer of covered bonds in the domestic market. Domestically, the Bank is also a frequent issuer of unsecured listed securities.
The Bank’s Euro Medium Term Note (“EMTN”) Programme is the Bank's platform for funding in international markets. The inaugural bond issue under the EMTN programme was in December 2013.
Covered Bonds
Íslandsbanki has a covered bond programme in place. The bonds are issued under Act 11/2008 on Covered Bonds. The issue is regulated by the Icelandic Financial Supervisory Authority and an independent inspector monitors the issues.
Prospectus
The Base prospectus was approved by Euronext Dublin, and can be found below along with any supplements.
- 2022 Covered Bonds Base Prospectus
- 2021 Covered Bonds Base Prospectus
- 2020 Covered Bonds Base Prospectus
- 2019 Covered Bonds Base Prospectus
- 2018 Covered Bond Base Prospectus
- 2017 Covered Bond Base Prospectus Supplement
- 2017 Covered Bond Base Prospectus
- 2016 Covered Bond Base Prospectus
- 2015 Covered Bond Base Prospectus
- 2013 Covered Bonds Base Prospectus
Domestic Bond Programme
Íslandsbanki has published a base prospectus for a domestic bond programme. The Bank is able to issue a wide range of bonds under the prospectus.
Euro Medium Term Notes – EMTN
Íslandsbanki has a USD 2.5bn Euro Medium Term Note programme (EMTN) in place. The programme is registered at the Irish Stock Exchange and is rated by S&P, which has assigned the programme the same rating as the bank.
Base Prospectus
- 2022 Íslandsbanki hf. Base Prospectus
- 2021 Second Supplement to Íslandsbanki hf. Base Prospectus
- 2021 Supplement to Íslandsbanki hf. Base Prospectus
- 2021 Íslandsbanki hf. Base Prospectus
- 2020 Supplement to Íslandsbanki hf. Base Prospectus
- 2020 Íslandsbanki hf. Base Prospectus
- 2019 Íslandsbanki hf. Base Prospectus
- 2018 Íslandsbanki hf. Base Prospectus
- 2017 Íslandsbanki hf. Base Prospectus
- 2016 Íslandsbanki hf. Base Prospectus
Additional Tier 1
Final Terms
Sustainable Financing Framework
Íslandsbanki has defined a Framework for sustainable loans and investments in its portfolio. It consists of green, blue and red categories for social development.
Sustainalytics has given its positive second party opinion on the Framework, which is based on the ICMA´s Green, Social and Sustainable Principles.
They consist of the following four pillars:
- Use of proceeds
- Process for project evaluation and selection
- Management of Proceeds
- Reporting