On 6 May Arion Bank will prepay Notes by USD 252,697,000 in addition to accrued interests. The Notes amounted to USD 747,481,000 when they were issued at the beginning of the year. The Notes are held by Kaupthing, and their issue formed a part of the arrangements for the liberalization of capital controls in Iceland.
The prepayment is in accordance with the terms and conditions of the Notes, which state that Arion Bank shall make a prepayment following further issuance by the Bank such as the one that took place on 26 April 2016 when the bank issued €300 million senior unsecured bonds.
For further information please contact Haraldur Gudni Eidsson of Arion Bank's Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 444 7108.