Arion Bank is holding a private placement of non-indexed covered bonds on Thursday 8 October 2015. The bonds are a 7-year benchmark series – ARION CB 22. At the same time Arion Bank is offering to buy back bonds in the series ARION CBI 19 and ARION CBI 34 for up to ISK 240 million in each series. This is in fulfilment of the market making agreements which were recently reached with Landsbankinn hf, MP Straumur and Íslandsbanki hf. Holders of bonds in these series can dispose of their bonds, free of commission, either in exchange for ARION CB22 or by selling them directly before 4:00 p.m. on Thursday 8 October. The buyback will be in the format of a Dutch auction, i.e. Arion Bank will accept the highest yield offered for up to ISK 240 million nominal value in each series.
For further information please contact Haraldur Gudni Eidsson of Arion Bank´s communications division at haraldur.eidsson@arionbanki.is, or tel: +354 444 7108.