Íslandsbanki hf. has today concluded an offering of covered bonds. Total demand amounted to ISK 9,060m.

The non-index linked issue ISB CB 27 was sold for an amount of ISK 5,300m at a yield of 8.89%. Total offers received amounted to ISK 5,300m with a yield ranging from 8.75% - 8.89%. The Bank is also issuing ISK 20,000m of the series for its own use.

The non-index linked issue ISB CBF 27 was sold for an amount of ISK 700m at 1-month REIBOR + 0.50%. The Bank is selling previously issued own bonds.

The index linked issue ISB CBI 28 was sold for an amount of ISK 2,200m at a yield of 2.18%. Total offers received amounted to ISK 3.060m with a yield ranging from 2.12% - 2.21%.

In connection with the auction, holders of the series ISB CB 23 were offered to sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the series ISB CB 23 was predefined at 98.93. The Bank buys back a nominal amount of ISK 2,420m in the series.