Published: 2019-06-12 17:45:37 CEST
Landsbankinn hf.
Other information disclosed according to the rules of the Exchange

Landsbankinn hf.: Covered bond offering results

Today, Landsbankinn concluded a covered bond auction where four series were offered for sale.

In total, 23 bids were received in the auction for the total amount of ISK 4,040m.

A total of 4 bids for ISK 180m were received in the series LBANK CB 21 at 4.45%-4.54% yield. Bids in the amount of ISK 160m were accepted in the series at 4.49% yield. Following the tap issuance, the total amount issued in the series will be ISK 5,420m.

A total of 4 bids for ISK 1,600m were received in the series LBANK CB 23 at 4.61%-4.66% yield. Bids in the amount of ISK 1,500m were accepted in the series at 4.65% yield. Following the tap issuance, the total amount issued in the series will be ISK 12,640m.

A total of 8 bids for ISK 1,380m were received in the series LBANK CBI 24 at 1.55%-1.64% yield. All bids were accepted at 1.64% yield. Following the tap issuance, the total amount issued in the series will be ISK 36,140m.

A total of 7 bids for ISK 880m were received in the series LBANK CBI 28 at 1.53%-1.58% yield. All bids were accepted at 1.58% yield. Following the tap issuance, the total amount issued in the series will be ISK 40,620m.

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 100.705. The covered bond exchange offering results in Landsbankinn buying ISK 600m in the series LBANK CB 19.

The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 19 June 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.