Íslandsbanki hf.: Upcoming covered bond auction 12 May
Íslandsbanki hf.: Upcoming covered bond auction 12 May
Íslandsbanki hf. will be holding an auction on covered bonds on Friday 12 May 2023.
The series ISB CBF 27, ISB CB 27 and ISB CBI 29 will be offered to investors.
ISB CBF 27 and ISB CB 27 will be offered via a Dutch auction process whereas ISB CBI 29 will be offered at a predefined fixed yield of 2.60%.
In connection with the auction, a covered bond exchange offering will take place, where holders of the series ISB CB 23 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the series ISB CB 23 is predefined at 99.7905 (7.0% yield).
The Bank reserves the right to accept or reject offers in part or in whole. Allocation preference may be given to those opting to sell ISB CB 23.
Expected settlement date is 19 May 2023.
The auction will be managed by Íslandsbanki’s Fixed Income Sales. Offers shall be submitted by e-mail to vbm@isb.is before 16:00 p.m. on 12 May 2023.