Landsbankinn covered bonds exchangeable for new bonds

By Marisa Wong

Los Angeles, Oct. 31 – Landsbankinn hf. said holders of its series LBANK CB 23 inflation-linked bonds can sell those covered bonds as part of an exchange for new covered bonds, according to a notice.

The issuer is offering two non-indexed series of covered bonds, LBANK CB 27 and LBANK CB 29, and one inflation-indexed series, LBANK CBI 28, at auction on Nov. 1.

Holders of the existing covered bonds can sell their bonds for the new bonds at a predefined clean price of 99.832.

Settlement will take place on Nov. 8.

Reykjavik, Iceland-based Landsbankinn provides personal and corporate banking and financial market solutions.

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