Covered bond issued by Íslandsbanki hf. (ISLA CB 16) has received observation status with reference to an announcement made public by the issuer on 14 April 2014, where it was announced that the terms of the bond were not correctly stated in the issue description dated 17 October 2013 and that the issuer will seek approval from the owners of the bond to amend the issue description.
The decision is based upon article 8.2 in the Rules for Issuers of Financial Instruments on NASDAQ OMX Iceland hf.