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In­aug­ur­al sub­or­din­ated is­su­ance in ISK

Landsbankinn has issued ISK-denominated subordinated bonds in the amount of ISK 5.5 billion. The issuance falls under the Bank’s ISK 50 bn debt issuance programme.
5 February 2020 - Landsbankinn

Landsbankinn has concluded an issue of subordinated bonds in Icelandic króna in the amount of ISK 5.5 billion. The issuance falls under the Bank’s ISK 50 bn debt issuance programme. The bonds are inflation-linked and with a 10NC5 structure. The bond issuance was the Bank’s inaugural ISK-denominated subordinated bond issuance.

26 offers were received in the total amount of ISK 8,860 million, nominal value. Five offers in the amount of ISK 900 million nominal value were submitted for the non-indexed class LBANK T2 29 at a yield of 6.60%-6.90%. No bids were accepted. 21 offers in the amount of ISK 7,660 million nominal value were submitted for the indexed class LBANK T2I 29 at a yield of 3.69%-4.00%. Bids totalling ISK 5,520 million were accepted at a yield of 3.85%.

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