Today, Landsbankinn concluded an offering of four series of covered bonds. In total, bids were received for the amount of ISK 6,600m and bids were accepted for ISK 2,680m.
Bonds in LBANK CBI 28, a new inflation-linked benchmark series, were sold for ISK 1,100m at 3.15% yield. In addition the series was tapped for ISK 960m for bond lending purposes in relation to market-making. The size of the series following the issuance will be ISK 2,060m.
LBANK CB 19 was tapped for ISK 160m at 5.50% yield. In addition the series was tapped for ISK 900m for bond lending purposes in relation to market-making. Landsbankinn has previously issued ISK 11,600m in the same series. Following the tap issuance, the total amount issued will be ISK 12,660m.
LBANK CB 17 was tapped for ISK 1,420m at 5.50% yield. In addition the series was tapped for ISK 900m for bond lending purposes in relation to market-making. Landsbankinn has previously issued ISK 1,800m in the same series. Following the tap issuance, the total amount issued will be ISK 3,400m.
No bids in the series LBANK CBI 22 were accepted. For bond lending purposes in relation to market-making the series was tapped for ISK 900m. Landsbankinn has previously issued ISK 16,860m in the same series. Following the tap issuance, the total amount issued will be ISK 17,760m.
The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 4 October 2016. On the settlement day, new market-making agreements will become effective with Arion bank, Islandsbanki and Kvika acting as market makers.
The covered bonds are issued in accordance with a license from the Financial Supervisory Authority (FME), with reference to act. no. 11/2008 and FME's rules no. 528/2008. Further information on the bonds and the cover pool is available on Landsbankinn's website, www.landsbankinn.is/covered-bonds.