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Tuesday 09 July, 2019

Landsbankinn hf.

Landsbankinn hf.: Covered bond offering results

Landsbankinn hf.: Covered bond offering results

Today, Landsbankinn concluded a covered bond auction where four series were offered for sale.

In total, 25 bids were received in the auction for the total amount of ISK 3,480m.

A total of 4 bids for ISK 580m were received in the series LBANK CB 21 at 4.50%-4.56% yield. All bids were accepted at 4.56% yield. Following the tap issuance, the total amount issued in the series will be ISK 6,000m.

A total of 5 bids for ISK 1,000m were received in the series LBANK CB 23 at 4.55%-4.61% yield. All bids were accepted at 4.61%. Following the tap issuance, the total amount issued in the series will be ISK 13,640m.

A total of 7 bids for ISK 1,040m were received in the series LBANK CBI 24 at 1.60%-1.66% yield. Bids in the amount of ISK 740m were accepted in the series at 1.64% yield. Following the tap issuance, the total amount issued in the series will be ISK 36,880m.

A total of 9 bids for ISK 860m were received in the series LBANK CBI 28 at 1.59%-1.63% yield. Bids in the amount of ISK 760m were accepted in the series at 1.62% yield. Following the tap issuance, the total amount issued in the series will be ISK 41,380m.

Concurrent with the auction was a covered bond exchange offering where holders of the series LBANK CB 19 could sell the covered bonds in the series against covered bonds bought in the abovementioned covered bond auction at a predefined clean price of 100.531. The covered bond exchange offering results in Landsbankinn buying ISK 180m in the series LBANK CB 19.

The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 16 July 2019. Arion banki, Islandsbanki and Kvika act as market makers for covered bonds issued by Landsbankinn.

The covered bonds are issued in accordance with a license from the Financial Supervisory Authority (FME), with reference to act. no. 11/2008 and FME‘s rules no. 528/2008. Further information on the bonds and the cover pool is available on Landsbankinn‘s website, www.landsbankinn.is/covered-bonds.


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