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Landsbankinn issues subordinated bonds for EUR 100 million

Landsbankinn hf. has today concluded the sale of its inaugural Tier 2 issuance. The EUR 100 million 10NC5 structure is callable in September 2023 with a final maturity in September 2028. The issuance is expected to be rated BBB- by S&P Global Ratings.p>The bonds were priced at a spread of 285 basis points above the EUR mid-swap market rate, with a coupon of 3.125%. The total demand was EUR 160 million from investors mainly from Scandinavia, Continental Europe and the UK.

The bonds will be issued under the bank’s EMTN programme and are scheduled to be admitted to trading on the Irish Stock Exchange on 6 September 2018.

Joint lead managers on the transaction were Citigroup and J.P. Morgan.

Lilja Einarsdóttir, Landsbankinn’s CEO:

“Landsbankinn is pleased to have reached the milestone of finalising its inaugural sale of a Tier 2 issuance in euros. Investors were very receptive which illustrates the growing trust the bank enjoys on international capital markets. The issuance is a step towards further optimising the bank’s capital structure, supporting long-term return-on-equity targets.”

 

News and Notifications - 21 September 2018 09:28 AM

Landsbankinn pays ISK 9.5 bn in special dividend

On 19 September, Landsbankinn paid a special dividend in the amount of ISK 9.5 bn. The Bank has paid a total of ISK 24.8 bn in dividends in 2018 and total dividends paid since 2013 amount to ISK 131.7 bn. Around 99.7% of dividend payments accrue to the National Treasury.


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B2B english - 21 September 2018 12:45 PM

Renewal of certificate under b2b.fbl.is on 8 October

At 9:00 (GMT+0) on 8 October, a new SSL certificate will be installed in the Landsbankinn Schema on the website b2b.fbl.is. Landsbankinn will continue to use the SHA-2 certificate, and this update is merely occasioned by a renewal of the validity period.


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Hagsjá/Economic Forecast - 21 September 2018 10:45 AM

Overview of the Icelandic FX market

Last week, when the króna had depreciated by almost 7% since the beginning of the month and more than 2% within the day against the euro, the Central Bank intervened and sold 9 million euros. This represents the Central Bank's first intervention on the FX market since November 2017, when the Bank bought 3 million euros.


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