Íslandsbanki: Two covered bond tap issuances on NASDAQ OMX Iceland

04.05.2012 - IR Releases

Íslandsbanki has tapped into two outstanding issuances of covered bonds that were listed on NASDAQ OMX Iceland in March 2012. The two tap issuances, which are both CPI-linked, are on the one hand a 7 year issuance, ISLA CBI 19, for an amount of ISK 635,000,000 at a real yield of 2.90%, and on the other hand a 12 year issuance, ISLA CBI 24, for an amount of ISK 850,000,000 at a real yield of 3.48%.

The total amount issued in ISLA CBI 19 and ISLA CBI 24 has now reached ISK 2,465,000,000 and ISK 2,350,000,000 respectively, following these latest issuances. In total, Íslandsbanki has now issued covered bonds amounting to ISK 8,815,000,000 since its inaugural issuance in December 2011.

Sold to a broad group of institutional investors, total appetite for the tap issuances amounted to ISK 2,185,000,000, but 68% of offers were accepted, or for the amount of ISK 1,485,000,000.

Trading is expected to commence on 10 May 2012 on the Nasdaq OMX Iceland. Market making for all of Íslandsbanki’s covered bond issues is in the hands of MP banki.

The bonds are issued under Act 11/ 2008 on Covered Bonds which obliges the issuer to fulfil strict requirements, whereby the underlying cover pool must withstand a weekly stress test with regards to interest rates and exchange rates. The issue is regulated by the Icelandic Financial Supervisory Authority which additionally appoints an independent inspector to monitor the issue. Special cover pool reports on the covered bond issuances are published quarterly and can be found on Íslandsbanki’s web.

Older news

Islandsbanki hf.: Íslandsbanki issues 10NC5 Tier 2 bond of SEK 750 million

16.11.2017 - IR Releases
Íslandsbanki has today issued a SEK 750m 10NC5 Tier 2 transaction. The bond pays a quarterly coupon of 3 month STIBOR +200bps.More

New Íslandsbanki housing market report

16.11.2017
If Íslandsbanki Research’s forecasts are borne out, house prices will rise by just over 20% year-on-year in 2017 and just under 12% in 2018. More

Interruption in online banking due to computer system installation at Landsbankinn

16.11.2017
On the weekend of 18-19 November, Landsbankinn and the Icelandic Banks' Data Centre (RB) will be installing a new computer system. Landsbankinn’s...More

Islandsbanki hf. : 9M 2017 Consolidated unaudited interim financial statements

09.11.2017 - IR Releases
Íslandsbanki's consolidated unaudited interim financial statements 9M 2017More

S&P upgrades Íslandsbanki to BBB+/A-2 with stable outlook

25.10.2017 - IR Releases
International credit rating agency S&P Global Ratings (S&P) upgraded Íslandsbanki’s credit ratings from BBB/A-2 to BBB+/A-2 today, with a stable...More

Icelandic Group Agrees Sale of Seachill to Hilton Food Group

18.10.2017
Icelandic Group is pleased to announce the sale for cash of its UK-based subsidiary Icelandic Group UK (“Seachill”), to Hilton Food Group (“Hilton”)...More

Íslandsbanki Reykjavík Marathon 2017 breaks record in pledges to charity

24.08.2017
As of last night’s midnight deadline for pledges to charity in connection with the Íslandsbanki Reykjavík Marathon, the amount pledged on the...More
Netspjall