Reference is made to the announcement published yesterday that the result in the exchange offer was that Arion would buy back in total ISK 1,320m of ARION CB 22 but the correct result is ISK 1,340m. Please see correction below
Today Arion Bank concluded a bond offering for the new series ARION 24 1020 GB. A total of 17 bids for ISK 6,620m were received at 0.58% - 0.80% spread. Bids in the amount of ISK 6,020m were accepted at REIBOR +0.70%.
The bonds have a maturity of 2.75 years and will pay floating 3M REIBOR interest +0.70%. The bond will pay quarterly interest payments. Principal is repaid in one payment at maturity 2024.
Holders of series ARION CB 22 were offered to sell the covered bonds in the series against the new series at clean price of 102.187. The exchange offer results in Arion Bank buying ISK 1,340m in the series ARION CB 22.
The bonds will be issued under the Bank´s Green Financing Framework and listed on Nasdaq Iceland. The Framework sets out clearly and transparently the conditions which the Bank’s loans need to meet in order to be considered environmentally friendly.
Further information: https://wwwv2.arionbanki.is/english/about-us/investor-relations/debt-investors/green-bonds/
The bonds are expected to be listed on Nasdaq Iceland on 20 January 2022.
The offering was managed by Arion Bank fixed income sales.