Kvika will offer green bonds in a new series, KVIKA 25 1201 GB, for sale on Thursday 24 November. The bonds will be issued under Kvika’s Green Financing Framework and listed on the Nasdaq Iceland exchange. The bonds pay a quarterly interest of 3-month REIBOR plus a spread. Principal is repaid in one payment at maturity, 1 December 2025.

The offering will be a Dutch auction, all bonds will be sold at the highest accepted spread on 3-month REIBOR. Total issuance in the series will be limited to ISK 5 billion.

Expected settlement date is Thursday 1 December 2022.

Capital Markets at Kvika manages the auction and bids will be received through the email utbod@kvika.is until 16:00 GMT on Thursday 24 November.