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Tuesday, 21 November 2017

Landsbankinn hf.: Bond issuance in euros

Landsbankinn hf.    

Published: 15:52 CET 21-11-2017 /GlobeNewswire /Source: Landsbankinn hf. / : LBANK CBI 22 /ISIN: IS0000025856

Landsbankinn hf.: Bond issuance in euros

Landsbankinn hf. has today concluded a sale of a new 5.5 year EUR 300 million senior unsecured bonds maturing in May 2023 with a fixed 1.00% coupon. The bonds were priced at terms equivalent to 85 basis points spread above mid-swap market rate. The total demand was over EUR 600 million from 70 investors. The bonds were sold to institutional investors in the UK, Continental Europe, Scandinavia and Asia.

Proceeds of the issuance will amongst other be used to pre-pay the bank's euro issuance maturing in October 2018 as a result of the tender offer scheduled to close on Friday 24 November 2017.

The bonds will be issued under the bank's EMTN programme and are scheduled to be admitted to trading on the Irish Stock Exchange on 29 November 2017.

Joint lead managers on the transaction were Citigroup, Deutsche Bank, Morgan Stanley and Nomura.

Hreiðar Bjarnason, Landsbankinn's CFO:

"High demand from a diversified investor base in the issuance reflects strong investor confidence towards Landsbankinn and the Icelandic economy. The issuance follows a recent upgrade of the bank's credit rating from S&P Global Ratings resulting in better terms and longer tenor than before."

For further information contact:

Hanna Kristín Thoroddsen, Investor Relations, ir@landsbankinn.is, tel: +354  4107310





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Landsbankinn hf., Austurstraeti 11, Reykjavik 155, Iceland
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