Arion Bank hf. and MP Bank hf. have signed a Market Making Agreement, where MP Bank hf. will act as a market maker for Covered Bonds issued by Arion Bank hf., which have been admitted to trading on the Icelandic stock exchange, Nasdaq Iceland (ARION CB 15, ARION CBI 19, ARION CBI 21, ARION CBI 29, ARION CBI 34).
The main terms of the agreement are:
The minimum bid and ask offer is ISK 20,000,000 at nominal value. The maximum bid-ask spread is determined by the maturity dates of the bonds in the relevant bond series. The market maker shall renew offers within 15 minutes after they were accepted or cancelled. The maximum obligated total trades per day is ISK 60,000,000 at nominal value.
The agreement is effective as of 16 January 2015. The agreement is of unlimited duration but can be terminated with 30 days‘ notice or by mutual agreement.
For further information please contact Haraldur Gudni Eidsson, Head of Arion Bank‘s Communications division, haraldur.eidsson@arionbanki.is, tel. + 354 444 7108.