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Landsbankinn issues EUR 300 million bonds

Landsbankinn hf. concluded 21 November a sale of a new 5.5 year EUR 300 million senior unsecured bonds maturing in May 2023 with a fixed 1.00% coupon. The bonds were priced at terms equivalent to 85 basis points spread above mid-swap market rate. The total demand was over EUR 600 million from 70 investors. The bonds were sold to institutional investors in the UK, Continental Europe, Scandinavia and Asia.

Proceeds of the issuance will amongst other be used to pre-pay the bank’s euro issuance maturing in October 2018 as a result of the tender offer scheduled to close on Friday 24 November 2017.

The bonds will be issued under the bank’s EMTN programme and are scheduled to be admitted to trading on the Irish Stock Exchange on 29 November 2017.

Joint lead managers on the transaction were Citigroup, Deutsche Bank, Morgan Stanley and Nomura.

Hreiðar Bjarnason, Landsbankinn’s CFO:

“High demand from a diversified investor base in the issuance reflects strong investor confidence towards Landsbankinn and the Icelandic economy. The issuance follows a recent upgrade of the bank’s credit rating from S&P Global Ratings resulting in better terms and longer tenor than before.”

News and Notifications - 07 May 2020 04:55 PM

Financial results of Landsbankinn for the first three months of 2020

In the first three months of 2020, Landsbankinn's after-tax results were negative by ISK 3.6 billion, compared with an ISK 6.8 billion profit for the same period in 2019. Loan impairment amounted to ISK 5.2 billion in the period, compared with impairment of ISK 1 billion in the same period last year.


News and Notifications - 24 April 2020 06:00 PM

S&P lowers Landsbankinn’s credit rating to BBB with stable outlook

S&P Global Ratings has today announced a lowering of Landsbankinn’s long-term credit rating. The credit rating is lowered by one notch, to BBB/A-2 with stable outlook.


News and Notifications - 22 April 2020 03:03 PM

Results of the AGM of Landsbankinn 2020

The Annual General Meeting of Landsbankinn was held on 22 April 2020 at the Bank’s headquarters in Austurstræti 11, Reykjavík. At the AGM, Helga Björk Eiríksdóttir, Chairman of the Board of Directors, presented the report of the Board of Directors, and Lilja Björk Einarsdóttir, CEO, spoke of the Bank’s solid standing and good performance in 2019.