Today, Landsbankinn concluded a covered bond auction where four series were offered for sale.
In total, 28 bids were received in the auction for the total amount of ISK 4,420m.
A total of 5 bids for ISK 600m were received in the series LBANK CB 21 at 4.47%-4.56% yield. Bids in the amount of ISK 200m were accepted in the series at 4.48% yield. Following the tap issuance, the total amount issued in the series will be ISK 6,200m.
A total of 4 bids for ISK 240m were received in the series LBANK CB 23 at 4.45%-4.48% yield. All bids were accepted at 4.48%. Following the tap issuance, the total amount issued in the series will be ISK 13,880m.
A total of 9 bids for ISK 1,200m were received in the series LBANK CBI 24 at 1.65%-1.75% yield. Bids in the amount of ISK 1,100m were accepted in the series at 1.74% yield. Following the tap issuance, the total amount issued in the series will be ISK 37,980m.
A total of 10 bids for ISK 2,380m were received in the series LBANK CBI 28 at 1.63%-1.70% yield. Bids in the amount of ISK 2,080m were accepted in the series at 1.68% yield. Following the tap issuance, the total amount issued in the series will be ISK 43,460m.
Concurrent with the auction was a covered bond exchange offering where holders of the series LBANK CB 19 could sell the covered bonds in the series against covered bonds bought in the abovementioned covered bond auction at a predefined clean price of 100.165. The covered bond exchange offering results in Landsbankinn buying ISK 700m in the series LBANK CB 19.
The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 28 August 2019. Arion banki, Islandsbanki and Kvika act as market makers for covered bonds issued by Landsbankinn.
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.