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Thursday, 16 November 2017

Landsbankinn hf.: Covered bond offering results

Landsbankinn hf.    

Published: 17:16 CET 16-11-2017 /GlobeNewswire /Source: Landsbankinn hf. / : LBANK CBI 22 /ISIN: IS0000025856

Landsbankinn hf.: Covered bond offering results

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

In total, 30 bids were received in the auction for the total amount of ISK 3,860m.

A total of 2 bids for ISK 120m were received in the series LBANK CB 21 at 5.18%-5.20% yield. No bids were accepted in the series.

A total of 6 bids for ISK 540m were received in a new benchmark series, LBANK CB 23 at 5.20%-5.34% yield. Bids for the amount of ISK 280m were accepted at 5.30% yield. In addition the series will be tapped for ISK 960m for bond lending purposes in relation to market-making. The total amount issued in the series will be ISK 1,240m.

A total of 11 bids for ISK 1,800m were received in the series LBANK CBI 24 at 2.60%-2.65% yield. Bids for the amount of ISK 400m were accepted at 2.61% yield. Following the tap issuance, the total amount issued in the series will be ISK 9,020m.

A total of 11 bids for ISK 1,400m were received in the series LBANK CBI 28 at 2.54%-2.57% yield. Bids for the amount of ISK 1,040m were accepted at 2.55% yield. Following the tap issuance, the total amount issued in the series will be ISK 19,320m.

The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 23 November 2017. 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





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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