Arion Bank hf.: Tier 2 bond offering in ISK

Reference is made to a press release from Arion Bank, published on 17 November 2022 regarding Tier 2 offering in Icelandic Króna.

Arion bank will be offering two ISK denominated Tier 2 bonds. An indexed linked and a non-indexed linked bond will be sold to investors.

The index linked bond will be sold with a coupon of 4.95% and the price of the bond will be 100 and a yield of 5.01%.
The non-index linked bond will be sold with a coupon of 9.25% and the price of the bond will be 100 and a yield of 9.46%.

Both bonds will pay coupon semi annually with one payment of principal at maturity date. Final maturity date will be 15 December 2033 and a call date 15 December 2028 and on every interest payment date thereafter (11NC6).

The offering will be on 1 December 2022 with settlement and listing on Nasdaq Iceland on 15 December.

The bonds will be issued under Arion Bank´s EUR 3.000m Euro Medium Term Note (EMTN) Programme which enables Arion Bank to issue bonds in a broad range of currencies at fixed or floating interest rates. The EMTN Base Prospectus is available at: https://wwwv2.arionbanki.is/english/about-us/investor-relations/debt-investors/funding-programmes-and-prospectuses/#Tab1

Arion Bank reserves the right to accept or reject offers in part or in whole.

The offering will be managed by Arion Bank Capital Markets. All offers shall be submitted by email to [e-mail] before 16:00 on 1 December 2022.

For any further information please contact:

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

Attachments

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Arion Bank hf.: Tier 2 bond offering in ISK

© Modular Finance, source Nordic Press Releases