Lands­bankinn is­sues seni­or non-pre­ferred bonds in SEK and NOK

Senior non-preferred bonds rank below traditional unsecured bonds yet take precedence over subordinated bonds. The bonds were priced at a spread of 180bps over 3-month STIBOR and 183bps over 3-month NIBOR. The issuance is the first of its type by an Icelandic bank and is expected to achieve a BBB rating from S&P.

Demand for the bonds was more than twofold from over twenty Nordic investors. DNB and Nordea managed the issuance.