A total of 14 bids for ISK 3,900 m were received in the new series ARION CB 27 at 5.69-6.00% yield. Bids in the amount of ISK 3,220m were accepted at 5.84% yield.

In addition the series was tapped for ISK 960 million for bond lending purposes in relation to market makers. The size of the series following the issuance will be ISK 4.180 m.

Holders of series ARION CB 22 were offered to sell in the series against the new series ARION CB 27 at clean price of 100.756. The exchange offer results in Arion Bank buying ISK 2,740m in the series ARION CB 22.

The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 12 May 2022.

The offering was managed by Arion Bank Capital Markets desk.