Islandsbanki holds tender for €300 million of 1.75% notes due 2020

By Wendy Van Sickle

Columbus, Ohio, April 4 – Islandsbanki hf. said it is tendering for up to €300 million of its €500 million of 1.75% notes due Sept. 7, 2020 until noon ET on April 11.

Pricing will be set using a purchase yield of negative 0.2% for a purchase price of 102.732% assuming a settlement date of April 15.

Islandsbanki also announced that it plans to issue a new series of euro-denominated fixed-rate notes under its $2.5 billion global medium-term note program, subject to market conditions. The offer is subject to completion of the new issue. Holders who tender their 2020 notes may be given allocation preference for the new issuance.

Tender instructions must be submitted for a minimum principal amount of at least €100,000 and in integrals of €1,000 after that.

Citibank, NA, London Branch (+44 20 7986 8969 or liabilitymanagement.europe@citi.com), Deutsche Bank AG, London Branch (+44 20 7545 8011), Merrill Lynch International (+44 20 7996 5420 or DG.LM_EMEA@baml.com) and Morgan Stanley & Co. International plc (+44 20 7677 7799 or liabilitymanagementeurope@morganstanley.com) are the dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or islandsbanki@lucid-is.com) is the tender agent.

Islandsbanki, together with its subsidiaries, provides various banking and financial services to households, corporations and investors. It is based in Kopavogur, Iceland.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.