Covered bonds – monthly over­view

2 February 2022 - Landsbankinn

Landsbankinn sold covered bonds for ISK 4,120m in offerings in January. Arion Bank an Íslandsbanki did not hold offerings.

In its offering on 12 January, Landsbankinn sold bonds in series LBANK CB 25 in the amount of ISK 690m at 4.40% yield (0.51% spread on RIKB). In the new series LBANK CB 27, the bank sold bonds in the amount of ISK 3,200m at 4.69% yield (0.63% spread on RIKS). In addition, the series will be tapped for ISK 960m for bond lending purposes in relation to market-making. In connection with the offering, a bond exchange offering took place where investors could sell bonds of series LBANK CBI 22 against covered bonds bought in the auction. The bank repurchased ISK 1,340m.

Arion Bank and Íslandsbanki did not hold offerings in January.

According to Landsbankinn's funding plan, the bank plans to issue covered bonds in the amount of ISK 34-39bn in 2022. According to Arion Bank's funding plan, the bank has not made any decision on the amount of covered bonds that it will issue this year. Íslandsbanki has not yet published a funding plan for the year.

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