Arion Bank has today issued an additional €200 million tap of the Euro benchmark bond issued December 2016. The Bank previously issued €300 million bringing the total to €500 million, or approximately ISK 60 billion. As before, part of the issue will be used to pay down existing loans.
The bonds have a December 2021 maturity and bear a fixed 1.625% coupon and were sold at terms equivalent to 1.55% over interbank rates. Barclays and Deutsche Bank arranged the tap issue for Arion Bank. Bids from more than 20 investors were received and total demand exceeded €200 million.
For further information please contact Haraldur Gudni Eidsson of Arion Bank's Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 444 7108.