Reference is made to an announcement made by Landsbankinn on 10 March 2023 regarding a proposed sale via auction of Tier 2 subordinated bonds in ISK.
Landsbankinn will offer two series of Tier 2 subordinated bonds in ISK for sale, an inflation-linked series and a non-indexed series.
The inflation-linked series will have a coupon of 4.95% and will be sold at a predetermined price of 100 which equals a yield of 4.95%. The series pays an annual coupon with one payment of principal at maturity.
The non-indexed series will have coupon of 10.10% and will be sold at a predetermined price of 100 which equals a yield of 10.10%. The series pays an annual coupon with one payment of principal at maturity.
Final maturity on both series will be 23 March 2033 and a call date on 23 March 2028 and on every interest payment date thereafter (10NC5).
The series will be issued under Landsbankinn’s debt issuance programme.
Landsbankinn reserves the right to accept any bid, either partially or in full, or to reject all bids.
Bids are to be submitted before 15:00 on Thursday, 16 March. Expected settlement and issue date is 23 March 2023.
Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.
