Arion Bank hf.: Covered Bond Offering Results

Today Arion Bank hf. has concluded a sale of a covered bonds in the series ARION CB 27 and ARION CBI 30 for a total of ISK 3,380 m.

In the series ARION CB 27 a total of 8 bids for ISK 1,720 m were received at a yield in the range of 8.09 – 8.15%. Bids in the amount of ISK 1,220 m were accepted at a 8.13% yield. The total size of the series following the issuance will be ISK 48.840 m. 

In the series ARION CBI 30 a total of 12 bids for ISK 2,420 m were received at a yield in the range of 3.35 - 3.41%. Bids in the amount of ISK 2,160 m were accepted at a 3.37% yield. The total size of the series following the issuance will be ISK 18.980 m. 

In accordance with the offering announcement, holders of ARION CB 24 were offered to sell their holdings in the series at a predetermined clean price of 99.6985 in exchange for subscriptions made in the offering. The exchange offer results in Arion Bank buying back ISK 1,240 m in the series ARION CB 24. 

The bonds are scheduled to be admitted to trading on Nasdaq Iceland on March 13th 2024. 

The bonds will be issued under Arion Bank´s covered bond programme. The Base Prospectus is available here. 

The offering is managed by Arion Bank Capital Markets. 

For any further information please contact:

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Theodór Friðbertsson, Head of Investor Relations at Arion Bank, [e-mail], tel. [phone] or Eirikur Dor Jonsson, Head of Treasury at Arion Bank, [e-mail], tel. [phone]

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Arion Bank hf.: Covered Bond Offering Results

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