REYKJAVIK - Landsbankinn hf., an Icelandic financial institution, has finalized a covered bond auction, accepting bids with yields ranging from 7.29% to 3.70%. During the auction held earlier today, the bank offered two series of covered bonds, LBANK CB 29 and LBANK CBI 30, and received a total of 25 bids amounting to ISK 6,160m.
The series LBANK CB 29 attracted 11 bids totaling ISK 2,180m, with accepted offers amounting to ISK 1,520m at a yield of 7.34%. Following this issuance, the total amount issued in the LBANK CB 29 series reaches ISK 15,620m. The other series, LBANK CBI 30, saw 14 bids totaling ISK 3,980m, with the bank accepting ISK 3,220m at a yield of 3.70%. This brings the total issued in LBANK CBI 30 to ISK 46,120m.
The settlement date for the auction is set for January 16, 2025. Arion banki, Islandsbanki, and Kvika bank are designated as market makers for Landsbankinn's covered bonds.
Covered bonds issued by Landsbankinn hold an A+ rating with a stable outlook from S&P Global Ratings. The issuance conforms to the regulations of the Financial Supervisory Authority (FME) of Iceland, underlining the bank's adherence to the country's financial standards.
The information about the auction results was disclosed in compliance with the EU Market Abuse Regulation and was made public by Hreiðar Bjarnason, Chief Financial Officer of Landsbankinn hf. This announcement is based on a press release statement from Landsbankinn hf.
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