Íslandsbanki has today issued a EUR 300m 0.5% fixed rate senior unsecured sustainable bond with a maturity of 3 years, at a spread of 100 basis points over mid-swaps.

The transaction is the first sustainable issue by an Icelandic bank and marks a positive milestone.
The issue was more than 3 times oversubscribed and was placed with over 80 investors across Europe .  

The bond is expected to be listed on the Irish Stock Exchange on 20 November 2020.
The transaction is issued under Íslandsbanki’s GMTN Programme supported by the Bank‘s newly-signed Sustainable Financing Framework, available at: https://www.islandsbanki.is/en/product/about/funding

The bookrunners for the transaction were: ABN AMRO, Barclays, Goldman Sachs and UBS Investment Bank.

Jón Guðni Ómarsson, CFO of Íslandsbanki
“We are very pleased to offer for the first time a sustainable bond issued by Íslandsbanki.
The issue is an important milestone in our journey towards further sustainability and builds on the Sustainable Financing Framework that we published recently.
We hope that the issue encourages more issuers to increase even further their green and sustainable investment offerings.
We are pleased to see the high demand in the bond reflecting investors strong confidence in Íslandsbanki and the Icelandic economy.”

For further information:

  • Head of Investor Relations – Margrét Lilja Hrafnkelsdóttir, ir@islandsbanki.is. Tel: +354 844-4033
  • Head of Communications - Edda Hermannsdóttir, pr@islandsbanki.is. Tel: +354 844-4005

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About Íslandsbanki
Íslandsbanki is a universal bank and a leader in financial services in Iceland with a history of 145 years of servicing key industries. The Bank has a 25-40% market share across all domestic business segments. Íslandsbanki's purpose is to move Iceland forward by empowering our customers to succeed. Driven by the vision to be #1 for service, Íslandsbanki's relationship banking business model is propelled by three business divisions that manage and build relationships with the Bank's customers. Íslandsbanki has developed a wide range of online services such as the Íslandsbanki and Kass apps, enabling customers to do their banking anywhere and anytime. At the same time, the Bank continues to operate the most efficient branch network in Iceland through its strategically located 12 branches. Íslandsbanki has a BBB/A-2 rating from S&P Global Ratings. www.islandsbanki.is

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